Vietnam: Imported ferrous scrap prices witness slight uptick despite sluggish steel demand

Last week, despite a modest price uptick, demand for imported scrap in Vietnam stayed low. US-origin HMS (80:20) was priced at $390-395/t CFR Vietnam, with Japanese H2 bulk scrap at $375-385/t CFR. Both US and Japanese exporters faced weak demand in Vietnam, Taiwan, and Bangladesh. In the domestic scrap market, northern mills bought H1 grade at VND 9,000-9,100/kg ($363-367/t) DDP and southern mills at VND 8,600-8,700/kg ($347-351/t) DDP. Interest in longs remained subdued amid high inventories and sluggish post-holiday demand