Vietnam: Domestic scrap purchase prices down by $4

Scrap prices in Vietnam declined further by VND 1,000/kg ($4) today compared to the beginning of the week, sources informed SteelMint. The new purchase price for H1 scrap has been set at VND 10,000/kg ($430) and VND 9,700/kg ($420) for H2 grade scrap. Scrap purchase prices have been following the global trend what with the recent fall in Japanese scrap buying bids alongside the decline in Vietnamese billet export offers that closely track Chinese steel futures, SteelMint notes.