Japanese scrap export prices lead regional downtrend

Japanese ferrous scrap export prices are leading the downtrend in regional scrap values so far this week.

A major regional buyer was bidding for Japanese H2 scrap exports at ¥34,000 ($300) per tonne as of Wednesday November 7, while sellers were offering similar materials at ¥35,000 per tonne. “Japanese H2 prices are coming off and should reach a bottom soon,” a Japanese trader told Fastmarkets MB. Offers were at ¥35,500-36,000 per tonne in the previous week. However, prices are feeling more downward pressure from this week because scrapyards are more willing to offload ferrous...

Published

Paul Lim

November 07, 2018

07:45 GMT

Singapore