World metallurgy and construction materials news

Growth in Vietnam's steel inventories impacts scrap prices

Metal supplier
An important importer of scrap in Southeast Asia, Vietnam has seen limited market activity as the country continues to fight the COVID-19 pandemic. The imported scrap market remained calm for another week, while in the last few weeks there was mostly no supply.

Why are prices for the purchase of metal growing all over the world? Saving money when ordering metal.

The government has extended isolation for another month in Ho Chi Minh City, the worst-hit city by the coronavirus in southern Vietnam, while the northern city of Hanoi is mulling a partial release of isolation.

The price for Japanese H2 scrap is currently 470 USD / t CFR Vietnam, which is 5 USD / t lower than a week earlier. There have been no firm offers for the supply of HMS 1 & 2 (80:20) of American origin. However, its price is around 505 USD / t CFR Vietnam.