Japanese H2 scrap continues to lead price falls amid weak sentiment

Japanese H2 scrap continued to lead price falls in the Asia markets amid weak demand from end-users and bearish sentiment among traders.

Key buyers are looking out for Japanese H2 scrap as the most competitive raw material for their furnaces this week after fob Tokyo Bay prices dipped further. This was after the Kanto Tetsugen tender results were announced today. Containerized scrap prices in Taiwan were also hit amid weak demand from end-users, who are holding out for even lower prices in the near term. Vietnam Fastmarkets MB’s import price assessment for heavy melting scrap (HMS) 1&2 (80:20) sold into Vietnam was $350-358 per tonne cfr for the week to Friday, unchanged from the previous week due to illiquid trading.   Vietnamese buyers are looking to Japanese H2 scrap as the most competitively-priced and are staying away from purchasing bulk deep-sea HMS 1&2 (80:20) materials. Offers for HMS 1&2 (80:20) scrap...

Published

Paul Lim

November 09, 2018

09:40 GMT

Singapore