Posted on 28 Dec 2021
Asia’s scrap market is likely to be affected by the increasing confirmed COVID-19 cases in major markets such as Vietnam and South Korea next year due to the possible impact on the supply side.
Vietnam’s outlook on the scrap market depends on China’s steel industry. The prices and the overall market might be affected by the COVID-19 confirmed cases. Besides, the continued weakening demand from overseas markets will also pressure Vietnam’s scrap market.
According to market participants, Vietnam’s scrap market will continue being pressed until the end of the Chinese New Year. If the epidemic can be well controlled after the lunar new year, the demand for steel used in the government’s infrastructure project will resume accordingly.
Source:Yieh
