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East Asian scrap steel prices remained steady week-on-week, as the market awaits guidance from the outcome of the Kanto tender.

Category: Blog

Time:2026-05-13

Market participants reported that, as of the week ending May 11, the East Asian scrap steel market remained stable, supported by robust domestic demand in Japan and steady export quotations. Meanwhile, Vietnamese steelmakers remained cautious, citing ample inventories, softer steel prices, and the competitive pricing of local scrap. Prices for deep-sea bulk scrap edged lower amid subdued purchasing interest.
Japan’s H2 scrap CFR Vietnam is assessed at USD 398 per tonne, unchanged from the previous week; H2 scrap FOB Tokyo Bay stands at JPY 54,400 per tonne (approximately USD 347 per tonne), also unchanged week-on-week; and U.S.-origin HMS 80:20 bulk CFR Vietnam is assessed at USD 402 per tonne, down USD 5 per tonne from the prior week.
Affected by the slowdown in market activity during the Golden Week holiday from April 29 to May 6, Japan’s H2 scrap export prices remained stable this week. No formal H2 offers to Vietnam were reported; transaction levels are estimated at USD 395–400 per tonne CFR Vietnam, broadly unchanged from the previous week. A market source noted that many overseas buyers are adopting a wait-and-see stance ahead of new Japanese price quotes and the upcoming Kanto tender results, while a slight strengthening of the yen has also provided support to sellers’ sentiment. With domestic demand steady and purchase prices relatively firm, Japanese exporters continue to resist lower offers.
Vietnamese steel mills remain cautious in the imported scrap market, as fluctuations in rebar prices and ample inventories have dampened purchasing urgency. Buyers are resisting Japan’s higher offers, with many favoring competitively priced domestic scrap over imported sources. Japan’s H2 scrap import意向 price stands at $395–$400 per ton CFR Vietnam, while deep-sea U.S.-origin HMS 80:20 bulk quotes fell by $5 per ton week-on-week to $400–$410 per ton CFR Vietnam. Indicative counteroffers hover around $395 per ton CFR, reflecting persistent bid–ask spreads and weak spot‑market liquidity. Declining domestic scrap and steel prices in Vietnam have squeezed mill margins, reducing appetite for higher-priced imports. Nevertheless, ongoing infrastructure projects are expected to provide support to near-term steel demand.
Steel scrap export prices in Japan are expected to remain firm, supported by stable domestic demand and limited selling pressure; however, cautious purchasing by Vietnam and weak downstream steel demand may continue to cap any upward momentum in the coming days.

Keywords: East Asian scrap steel prices remained steady week-on-week, as the market awaits guidance from the outcome of the Kanto tender.

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East Asian scrap steel prices remained steady week-on-week, as the market awaits guidance from the outcome of the Kanto tender.

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