Asking prices for Japanese H2 heavy scrap soared after Wednesday’s Kanto Tetsugen – an auction between scrap suppliers in the Tokyo area – where a mill in Vietnam was heard to have purchased a 5,000-tonne lot at ¥30,270 ($288) per tonne fas.
Fastmarkets’ weekly price assessment for steel scrap H2, Japan-origin import, cfr Vietnam
was $320-328 per tonne on Friday, up $13-21 per tonne week on week from $307 per tonne previously.
Deals through the week were heard to have started at $320 per tonne cfr South Vietnam, and had moved up to $328 per tonne cfr by the end of the week. By Friday, offers for Japan H2...