Fastmarkets’ price assessment for steel scrap H2, export, fob main port Japan
rose to ¥23,500-24,000 ($218-222) per tonne on Wednesday May 27, up ¥1,000 per tonne week on week.
Small quantities of H2 were heard sold to South Korea at ¥23,500, while bids from Taiwan worked out at around ¥23,300 per tonne fob and offers from most sellers were at around ¥24,000 per tonne fob and above.
Rising export scrap prices in recent weeks have made it difficult for local steelmakers to procure scrap, which prompted major electric arc furnace (EAF) buyer Tokyo Steel to raise its buy prices
by ¥1,500-2,000 per tonne over the past week.