• South Korea books more scrap
• Tokyo Steel Utsunomiya raises buy price again
• China prices continue downtrend amid bearish sentiment in finished steel markets
• Taiwan prices retreat on weakening sentiment.
Bookings by Korean mills have been heard at ¥69,500 ($609) per tonne cfr for Japanese bulk heavy scrap (HS) and at ¥68,000 per tonne cfr for bulk shredded scrap in recent days. Sources said that average freight costs from Japan to South Korea were ¥4,000-5,000 per tonne over the past week.
Fastmarkets’ weekly price assessment for steel scrap heavy scrap (HS), export, fob main port Japan
, was ¥64,500-65,500 per tonne on Wednesday, up by ¥500-1,500 per tonne from ¥63,000-65,000 per tonne one week earlier.
Deals were done to a third Korean mill late last week at ¥54,500 per tonne fob for H2 and at ¥67,000 per tonne fob for...