Platts to launch daily HS CFR Vietnam ferrous scrap price assessment

Platts, part of S&P Global Energy, will launch a new daily HS ferrous scrap price assessment on a CFR Vietnam basis, effective Dec. 1, 2026, in reflection of changes in trade flows and spot market liquidity.

The decision to launch the assessment follows a period of market feedback and responds to growing trade flow volumes into Vietnam, in complementing Platts' existing suite of ferrous scrap assessments.

Japan's ferrous scrap export volumes to Vietnam in 2025 rose by 26% to 3.28 million metric tons year on year, according to S&P Global Trade Analytics Data.

The new assessment will have the following specifications:

Platts initially proposed the launch of the new assessment on Oct. 12 in a subscriber note available at https://www.spglobal.com/energy/en/pricing-benchmarks/our-methodology/subscriber-notes/101226-platts-proposes-to-launch-daily-hs-cfr-vietnam-ferrous-scrap-price-assessment.

Following market feedback after the earlier proposal subscriber note, the new assessment will reflect its location specification as "Main Vietnamese ports, normalized to Nghi Son basis" instead of "Main Vietnamese ports, normalized to Phu My basis" to better capture mainstream trade flows.

The assessment will reflect a 5:30 pm Singapore time stamp and follow the Singapore publishing calendar.

The assessment will also consider market information reported to Platts and published throughout the day, including firm bids and offers, transactions and indications, as well as any other data deemed relevant to the assessment process.

Information reported on cargoes with specifications that differ from those above may be normalized to Platts basis specifications, using price differentials surveyed in the market.

The assessment will be published on fixed pages STL/PMA 1326 and 1362, in Platts SBB Steel Markets Daily, and in the Platts price database. The first monthly average calculations will be updated on Jan. 1, 2027, reflecting the average of daily assessments published throughout December.

Full details of Platts existing ferrous scrap assessments can be found here: https://www.spglobal.com/content/dam/spglobal/ci/en/documents/platts/en/our-methodology/methodology-specifications/metals/steel-ferrous-specifications.pdf.

Please send all comments, feedback, and questions to pl_asia_steel@spglobal.com and pricegroup@spglobal.com .

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available to the public upon request.