Japanese scrapyards have sold cargoes of H2-grade scrap at ¥32,500-33,000 ($311-316) per tonne fob in the past week, with offers heard at ¥32,500-33,000 per tonne fob.
Vietnamese buyers had received offers at $345-350 per tonne cfr Vietnam for Japanese H2 cargoes early in the week, but offers rose to $350-355 per tonne cfr Vietnam by Wednesday, when bids were heard at $350 per tonne cfr Vietnam.
“Demand for steel scrap cargoes is very strong now, with many buyers seeking sources,” a scrap trader in Singapore said on Wednesday.
Global ferrous scrap supply has become increasingly limited due to the reduction in material volumes from the United States, as well as the...
