Ferrous scrap offers to Asia have increased this week due to recent strength in Japanese and Turkish scrap prices.
Offers for bulk-shipment Japanese H2 scrap have increased to $340-360 per tonne cfr Vietnam, up from $335-336 per tonne cfr Vietnam last week. Bids from buyers were at $330-340 per tonne cfr Vietnam, widening upward by $10 per tonne from a week earlier.This is on the back of the second consecutive increase in domestic ferrous scrap purchase prices in March by key Japanese mini-mill Tokyo Steel - Japan's largest electric-arc furnace-based producer and domestic benchmark price-setter.It is now paying ?34,000 ($303.81) per tonne for scrap delivered to its Tahara steelworks, ?32,000 per tonne...