Vietnam: Domestic ferrous scrap prices move up

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Domestic ferrous scrap prices in Vietnam have increased by $22/t on the week, as per SteelMint assessment.
The procurement price for H1 grade scrap stands at VND 11,700/kg ($509/t), while VND 11,400/kg ($496/t) is the price that has been settled for H2 scrap. However, a few transactions have been heard of H1 being sold at VND 12,000/kg ($522) and H2 at VND 11,700/kg ($509), up VND 200-300/kg.
Domestic re-bar sales continue to remain subdued. However, recent billet export deals to China have somehow managed to keep sentiments supported.

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