VIETNAM STEEL SCRAP: Spot demand dips on souring sentiment

Spot demand for imported ferrous scrap in key Asian market Vietnam slowed in the week to Friday June 19 after buyers noted a dip in prices from the middle of the week.

Offers for bulk Japanese H2 cargoes were at $275-280 per tonne cfr southern Vietnam at the start of the week and had fallen to $270 per tonne cfr southern Vietnam on Friday.
There was a transaction at $270 per tonne cfr Vietnam in the earlier part of the week before demand thinned while buyers awaited more price falls. There were limited bids at $264-265 per tonne cfr southern Vietnam by Friday June 19.
A Japanese bulk H1&H2 (50:50) cargo was heard sold at $269 per tonne cfr southern Vietnam.

"It's high time prices start to fall because a lot of demand from steel mills has...

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