“There are hardly any offer prices for cfr China scrap in the market now. Prices for heavy scrap (HS) in Japan are quite high, which makes export deals to China very hard to clinch,” a Japanese exporter source told Fastmarkets.
The source indicated a market level for HS in Japan at $600-615 per tonne cfr China on Friday.
“Now, the demand for HS is mainly from South Korea and blast furnace (BF) mills in Japan. They are paying competitive prices for the material,” the exporter added.
“Scrap prices haven’t changed much in China this week. Buyers’ acceptable bid prices are still at $535-540 per...