VIETNAM STEEL SCRAP: Thin spot negotiation amid large bid-offer spread, rampant Covid-19 pandemic

Spot activity in the Vietnamese ferrous scrap import market remained extremely thin amid poor demand from steel mills, sources told Fastmarkets.

There was a transaction confirmed for an August-shipment cargo at $484 per tonne cfr southern Vietnam, against offers at $490-500 per tonne cfr Vietnam.
Bids were at $480 per tonne cfr Vietnam.
"It is very, very quiet this week because of the large bid-offer spread between buyers and sellers," a seller source in Vietnam told Fastmarkets on Friday July 2.

Bulk Japanese shredded scrap was offered at $560 per tonne cfr Vietnam, although buyers said they were not willing to...

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