ASIA STEEL SCRAP DIGEST: Japan local sales still more appealing than exports

Selling prices for Japanese steel scrap remain more attractive in the Japanese local market than exporting overseas, despite a fresh price cut by Tokyo Steel, sources told Fastmarkets on Wednesday September 8.

Tokyo Steel reduces scrap buy prices at key millTaiwan pays higher prices for containerized scrap amid rising logistics costs and lack of vesselsWide gaps between bids and offers persists in Chinese imports markets, prevents dealsJapan
Activity in the Japan steel scrap export market was muted on Wednesday September 8 with market participants looking to the Kanto Tetsugen auction on Thursday for a clearer direction.
Key scrap buyer Tokyo Steel reduced its steel scrap buy prices for all grades at its Utsunomiya works by  ?500 ($5) per tonne, effective from Thursday. The mill will pay  ?47,000 ($427) per tonne for H2 from September 9.

Despite the small drop in Tokyo Steel buy prices, domestic buy prices remain more competitive than the majority of...

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