VIETNAM STEEL SCRAP: Buyers eschew Japanese scrap in favor of US, Australian supply

Vietnamese ferrous scrap buyers are eschewing bulk Japanese scrap in favor of bulk deep-sea cargoes from the United States and Australia.

There was a transaction concluded at $516 per tonne cfr Vietnam for a 27,500-tonne HMS 1&2 (80:20) cargo from Australia by a steel mill in southern Vietnam, and a transaction concluded at $520 per tonne cfr Vietnam for a HMS 1&2 (80:20) cargo from the United States' West Coast by a second southern Vietnamese steel mill.
Both cargoes were sold by the same scrapyard.

There was talk in the market...

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