VIETNAM STEEL SCRAP: Offers slide on growing bearish sentiment

摘要

Import prices for ferrous scrap in Vietnam continued on a downward trend in the week to Friday July 3, with bearishness steadily growing among market participants. There was a transaction at $247 per tonne cfr Vietnam for a bulk Japanese H2 cargo early this week. But transaction prices fell to $243 per tonne and $245 per tonne cfr Vietnam toward the end of the week. Offers fell to $245-250 per tonne cfr southern Vietnam this week from $259-260 per tonne cfr late last week, while bids fell to $240 per tonne cfr southern Vietnam from $245 per tonne cfr southern Vietnam. Similar cargoes were offered at $253 per tonne cfr northern Vietnam. Buyers were mostly on the sidelines, waiting for prices to bottom out before entering the spot market again.