- Buyers cautious due to weather disruptions
- Some mills actively purchasing deep-sea scrap
Vietnam’s scrap market remained quiet in the backdrop of minor price declines, bid-offer gaps, and cautious buying on weak demand and weather disruptions, which kept both imported and domestic scrap trade subdued.
Weekly assessments
Japanese H2 scrap was at $322/t CFR, down by $3/t w-o-w.
US-origin HMS 80:20 bulk stood at $342/t CFR Vietnam, down by $3/t w-o-w.
Market updates
Offers for US-origin HMS 80:20 deep-sea cargoes were heard at $345-350/t CFR Vietnam, with bids holding near $340/t-mostly unchanged w-o-w. H2 scrap offers were reported at $325-330/t CFR Vietnam, unchanged w-o-w. Tradable levels also remained steady at $322-323/t, while bids held firm at $320/t CFR, reflecting a persistent bid-offer gap.
A market participant commented, “Vietnamese buyers are cautious as weather-related disruptions and a sluggish downstream steel market continue to dampen sentiment. Although Typhoon No. 15 did not make landfall, market participants noted that overall activity has yet to recover.
A trader added that the sector has entered a buyer-seller negotiation phase, with typhoon conditions slowing rebar sales. This has kept buyers unwilling to raise bid levels.
Only a few Vietnamese mills are currently active in purchasing deep-sea scrap, with at least one major buyer having already covered most of its 2025 requirements.
Domestic updates
Domestic HMS (3-6 mm) scrap bids in Vietnam were reported at VND 7,700-8,800/kg ($292-334/t) (excluding VAT), delivered to mills in the southern region, a source informed BigMint.
In the northern region, domestic HMS (3-6 mm) bids were slightly higher, heard at VND 8,350-9,200/kg ($317-349/t) (excluding VAT), delivered to local mills.
Outlook
Vietnam’s scrap market will likely stay weak as flooding, soft steel demand, and cautious buying keep trade slow. Prices are expected to remain rangebound with limited deep-sea activity.
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