CHINA STEEL SCRAP: Buyers stall buying amid Japan market downturn

Falling steel scrap prices in Japan and continued uncertainty over whether Chinese port authorities will allow ferrous scrap cargoes to discharge remain key considerations for buyers in China, many of whom lowered their bids this week, sources said.

Bids for heavy scrap (HS) from buyers peaked at $480 per tonne cfr China on Tuesday March 16, while offers were at $480-499 per tonne cfr China.
South Korean plate and structural (P&S) scrap was offered at $499 per tonne cfr China, while sources said sellers could accept $495 per tonne cfr China.
Southeast Asia-origin P&S scrap was offered at $480-485 per tonne cfr China, although several sales done late last week came to light on Monday.

A sale for 2,500 tonnes of Japanese HS concluded at $484 per tonne cfr China, while another deal was done for Japanese...

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