JAPAN SCRAP EXPORTS: Prices weaken as bookings slow down

Japanese export prices for ferrous scrap have fallen for the third consecutive week, with market conditions expected to deteriorate further in the short term, trading sources told Fastmarkets on Wednesday March 18.

Fastmarkets’ price assessment for steel scrap H2 export, fob main port Japan, settled at ¥22,000-22,500 ($206-210) per tonne on Wednesday, down by ¥500 per tonne week on week from last week’s ¥22,500-23,000 per tonne.
The Japanese market suffered from lower liquidity over the past week, with a slowdown in bookings from key scrap buyers in South Korea, Vietnam and Taiwan.

Japan’s steel markets also weakened further over the past seven days, with major mill Tokyo Steel announcing dramatic decreases in its April sales prices for...

Published

March 18, 2020

13:17 GMT

Singapore