Japanese ferrous scrap export prices are leading the downtrend in regional scrap values so far this week.
A major regional buyer was bidding for Japanese H2 scrap exports at ?34,000 ($300) per tonne as of Wednesday November 7, while sellers were offering similar materials at ?35,000 per tonne."Japanese H2 prices are coming off and should reach a bottom soon," a Japanese trader told Fastmarkets MB.Offers were at ?35,500-36,000 per tonne in the previous week. However, prices are feeling more downward pressure from this week because scrapyards are more willing to offload ferrous...