JAPAN STEEL SCRAP: Export prices rise on firm demand, stronger yen

Export prices for bulk cargoes of Japanese steel scrap have risen for the third consecutive week amid solid buying interest, market sources told Fastmarkets on Wednesday July 29.

Fastmarkets’ price assessment for steel scrap H2, export, fob main port Japan, was ¥25,000-25,500 ($237-242) per tonne on Wednesday, up by ¥500 per tonne from ¥24,500-25,000 per tonne last week.
Japan-origin H1:H2 (50:50) material was heard sold to Taiwan at $256-258 per tonne cfr earlier in the week, which one Japanese exporter said would be equivalent to around ¥25,500 per tonne fob.
Offers for H2 were heard on Wednesday at ¥25,500-26,500 per tonne fob Japan, up from ¥25,000-25,500 per tonne fob one week earlier.
Strong yen, firm demand

“The market moved up, and now the Japanese yen is very strong due to the deterioration of US-China relations, so Japanese exporters have no choice but to sell at higher prices,” one Japanese...


Lee Allen

July 29, 2020

17:23 GMT