Spot prices in the key Vietnamese scrap import market increased in the week to Friday March 5, with key buyers setting eyes on bulk deep-sea HMS 1&2 (80:20) cargoes over Japanese H2 cargoes due to the thin premium the former is commanding.
Two transactions for bulk HMS 1&2 (80:20) cargoes were concluded on Thursday at $474 per tonne and $477 per tonne cfr Vietnam. One cargo was from Australia, while the other was from the United States' West Coast.Bids were at $465 per tonne cfr Vietnam at the start of the week. There was market chatter that there was a transaction concluded at $465-470 per tonne cfr Vietnam, although this could not be...