ASIA STEEL SCRAP DIGEST: Japan sellers hold back tonnages ahead of holiday

Japanese steel scrap exporters were unwilling to part with large tonnages of material at current market prices ahead of a long holiday in the country starting this week, sources told Fastmarkets on Wednesday August 11.

Japanese sellers cautious about new salesLarge gap between containerized and bulk-shipment prices for Taiwan imported scrapChinese scrap import market quiet despite futures gains; production curbs damp demandIndian import prices edge down amid low demand.
Japan
Prices for steel scrap exported from Japan have largely moved down over the past week, but most sellers were hesitant about booking large tonnages ahead of the country's Obon holiday on August 13-16.
Several Japanese market participants have already started taking leave in the past few days, and market activity was expected to be low in the coming week. Shindachi busheling prices were expected to remain well supported with automotive manufacturers closing over the holiday.

Heavy scrap (HS) was heard bid at ?63,000 ($570) per tonne cfr South Korea this week, with shredded bid at ?60,000 per tonne cfr Korea but only limited interest...

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