VIETNAM STEEL SCRAP: Price slide for seaborne cargoes, support for domestic prices

The Vietnamese scrap import market continued to slip during the week ending Friday August 6 due to weak demand for downstream long steel, sources told Fastmarkets.

Offers for bulk Japanese H2-grade material were heard at $480 per tonne cfr southern Vietnam, while offers to northern Vietnam were at $485 per tonne.
Buyers had lowered their bids to $460-470 per tonne cfr Vietnam.
"It's hard to see sellers accepting $460 per tonne cfr Vietnam for bulk Japanese H2 cargoes, although if there were offers at $475 per tonne and below, there could be some buying interest," a Vietnamese trader told Fastmarkets on Friday August 6.

Key market participants estimated that spot price levels were...

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