“Ferrous scrap prices in Asia are trapped in a bottomless pit,” a source at a Japanese scrapyard said on Wednesday September 18. “It seems like there is no end to the price falls.”
Sellers have continued to offer lower prices this week into major import markets, with key price points in the region continuing to show sharp downtrends in the week to Wednesday September 18.
Steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port Taiwan
Taiwanese steel mills have lowered their bids for scrap from the United States from last Friday when imported containerized material was sold at $243...