Low-priced Chinese billet dragging down scrap prices across Asia

The fall in Chinese billet prices is expected to accelerate further, piling more pressure on ferrous scrap prices, according to Hisatoshi Kojo of the Bureau of International Recycling (BIR).


Kojo, board member of the BIR Ferrous Division and executive director at Tokyo-based international scrap trading firm Metz Corp, gave the forecast in the world recycling body’s latest quarterly report on ferrous metals. As a result, a fall in the ferrous scrap price will be inevitable in the coming months, he said. Given the decline in demand from two major importers – South Korea and Turkey – and a floundering US scrap export market, no price rebound in the scrap market can be expected for the remainder of the year, he added....

Published

Weilyn Loo

October 20, 2015

14:05 GMT

Singapore