The Vietnam import ferrous scrap market saw limited spot trade in the week to Friday November 19, with Vietnamese steelmakers and traders waiting for prices to reach a bottom before purchasing again.
A transaction for a bulk cargo of heavy melting scrap was heard concluded recently.
It came to light this week that there was a transaction concluded at $540 per tonne cfr Vietnam on a 90-day letter of credit basis for a 22,000-tonne cargo from Australia, including 11,000 tonnes of heavy melting scrap (HMS) 1&2 (80:20) and 11,000 tonnes of plate & structural (P&S) and bonus scrap late last week.
Offers...