Vietnamese buyers have yet to achieve a significant reduction in scrap import prices, although Japanese suppliers have had to adjust their offers according to the increasing downward trend in the domestic market.
Japanese exporters are offering 360-365 USD/MT CIF for H2 grade scrap. This corresponds to a correction of at least 10 USD/MT since the beginning of November. Counter-offers from customers are already at 350 USD/MT CIF, but there are no confirmed transactions at this price yet.
However, the decrease in prices to the level of 322-325 USD/MT DAP in the Japanese domestic market is interpreted as an indicator of an approaching downward trend in export prices.
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