Ferrous scrap demand in Asia has been thin this week in the face of falling prices.
Buyers in key import markets are holding back from purchasing import cargoes amid expectations of further price falls. "South Korea does not have demand for imported heavy melting scrap cargoes this week because domestic scrap inventory level is high," a source familiar with the South Korean import market said. Buyers of bulk scrap cargoes in Vietnam have also stayed away due to fierce competition in the downstream billet market. Billet from Vietnamese integrated blast furnace producers has been offered...