- South Korea likely to push Japan prices down further
- Production curbs weigh on Chinese scrap demand
- Offers for bulk cargoes to Vietnam fall
- Taiwan buys containerized scrap for less than $440 per tonne cfr Taiwan.
Market sources expected to see lower bid prices for Japanese material in a scrap tender to be held by a major Korean mill later this week.
With mill maintenance rounds reducing Japanese domestic scrap intake recently
, a Japanese supplier source said that the South Korean steelmaker may take this opportunity to try for lower prices this week, after having bid ¥47,000 ($431) per tonne fob for H2-grade material last week.
But a Japanese trader source did not sense much weakness in the domestic market, particularly on the higher grades, and said that the generation of Shindachi...