VIETNAM STEEL SCRAP: Hefty spot demand feeds China billet import appetite

Demand for Japanese steel scrap in key Vietnam import markets continued this week with domestic steelmakers sourcing the raw materials to churn out billet for Chinese buyers, sources said.

"A lot of spot demand for scrap in Asia is now [coming from] Vietnamese steel mills, which are betting on the Chinese appetite for billet imports to continue," a mill source in Asia told Fastmarkets on Friday July 17.
Bulk Japanese H2 cargoes were sold at increasingly higher prices throughout the week, market participants said.

Two 5,000-tonne cargoes...

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