ASIA STEEL SCRAP DIGEST: Japan struggles to sell lower-grade material

Japanese lower-grade scrap prices are facing renewed pressure, and Shindachi busheling prices have continued to be propped up in recent weeks by reduced generation at automaker Toyota, sources told Fastmarkets.

Key Japanese mills reduce some scrap bid pricesGaps between bids and offers narrow downward with lower cost scrap emerging in the Chinese marketTaiwan imported containerized scrap prices edge upJapan
Offers were heard for Japanese H2 at ?46,000-47,000 ($419-428) per tonne fob on Thursday August 26. It was stable week on week, but sources said that some sellers sold to South Korea at ?45,000 per tonne fob around one week ago.

Sentiment in the H2 market remains weak, with a major Vietnamese mill bidding at $470 per tonne cfr for H2. Offers were heard at and above $480 per tonne cfr. But a Singaporean trading source said that the H2 market may fall more...

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