15
Mar
10:40
East Asian scrap market stays firm
The scrap market is firm in East Asia, Kallanish notes.
In Vietnam, offers for bulk scrap have touched $600/tonne cfr. Bulk HMS 1&2 80:20 US scrap is offered at around $665/t cfr. Japanese H2 grade scrap offers are at $620-625/t cfr Vietnam, compared to $630-640/t cfr last week. Market participants attribute this price fall to lower freight rates on account of softening crude oil prices and weakness in China. But Japanese scrap remains…
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Anonymous
Very good overview of the weekly steel market.
Anonymous