Posted on 17 Jun 2022
The Vietnamese scrap market has fallen sharply, Kallanish notes.
Bulk scrap offers for HMS 1/2 80:20 from the EU are prevailing at $416/tonne cfr Vietnam, market sources say. A scrap cargo from Latvia comprising 30,000t of 80:20/shredded was recently booked at a composite price of $420/t cfr and 8,000t of Bonus grade scrap at $435/t cfr. The July-shipment cargo is destined for Ho Chi Minh City.
Although a trader is uncertain of the actual tonnage breakdown of HMS and shredded on board the vessel, he estimates that the HMS price would be equivalent to $415-418/t.
Containerised 80:20 US scrap offers have fallen to around $400/t cfr Caimep, down from $440/t cfr around 8 June. There is no buying interest, a trader says. Buyers are not giving bids, he adds. Despite the competitiveness of bulk scrap at the moment, the small mills in Vietnam still have to buy container scrap, a Vietnamese mill manager notes. Only certain mills in Vietnam can buy bulk scrap cargoes from the EU and US, he adds.
Source:Kallanish
