Spot prices for imports of deep-sea steel scrap in bulk into Vietnam continued to fall in the week ended Friday July 1 amid weak demand for imported and domestic scrap in the country, in addition to poor downstream steel prices.
Prices for steel scrap imported to key South Asian markets showed more strength on Thursday June 30 following firmer market fundamentals in both China and Turkey, sources told Fastmarkets.
Imported steel scrap prices in key market Vietnam were lower this past week amid weak demand from steelmakers, which are facing depressed long steel prices in the domestic markets and high inventories.
Japanese scrap sellers are finding it hard to secure vessels to take shipments of the steelmaking raw material to Vietnam, sources told Fastmarkets this week.