JAPAN STEEL SCRAP: Export prices stable but expected to weaken

Export prices for steel scrap from Japan remained largely unchanged in the week to Wednesday June 17, but market participants expecting to see lower prices in the next bookings.

Japan’s export scrap prices for H2 heavy scrap have been on a consistent upward trend since early April, but the high prices have put off many buyers over the past week, with key consumers in Taiwan concentrating on US material and South Korea focusing on Russian and US bulk cargoes.
Fastmarkets’ price assessment for steel scrap H2, export, fob main port Japan, was ¥26,500-27,000 per tonne on June 17, unchanged week on week.

Deals for 2,000-3,000 tonnes in bulk were concluded to South Korean mills at ¥26,500 per tonne fob, with bid levels from Vietnam heard on Wednesday at the same price. H2 offer price levels remained largely unchanged over the...


Lee Allen

June 18, 2020

12:42 GMT