Typhoon Hagibis fails to lift Asian scrap prices despite disrupting supplies in Tokyo

Typhoon Hagibis has failed to have any immediate impact on the Asian scrap market, with key overseas buyers of Japanese scrap still aiming for stable or lower prices this week in the aftermath of the tropical cyclone.

Sources at major scrapyards said Typhoon Hagibis had disrupted scrap collection after passing over the Tokyo area on Saturday October 12, with buyers expecting reduced supplies as a result.
"Some Japanese steelmakers are looking for prompt-delivery cargoes and are willing to bid higher, so some sellers have increased their offers," a seller at a Japanese scrapyard said.

However, overseas demand has been weak due...


Paul Lim

October 16, 2019

12:11 GMT