Japan higher-grade scrap prices suffer from rising supply
Export prices for some steel scrap grades in Japan fell in the week ended Thursday November 25 amid a slight weakening in the domestic market and higher supply, sources told Fastmarkets.
- Japan Shindachi supply rises, leaning on prices
- Taiwan secures containerized scrap at $445 per tonne cfr
- Sentiment in China scrap market improves but interest for importing remains low
In the Japan export market, the price of Shindachi Bara prime scrap material fell during the week due to higher supply caused by a rise in automotive production at the factories of carmaker Toyota.
In December, Toyota plans to operate all of its 14 plants and 28 production lines normally for the first time since May 2021, the firm said on November 12. The carmaker's sprawling Toyota City, where most production is based, is located in Nagoya, central Japan.
“It seems that Toyota’s production is quite good now and there is a higher generation of Shindachi in the Nagoya market now," a Japanese supplier source said on Wednesday November 24.