Japanese scrap exporters have started to shun deals at the most recent transaction prices, they told Fastmarkets this week, with scrap collection activity slowing down and bulk scrap deals to Turkey being agreed at higher prices in recent days.
The Japanese ferrous scrap market continued to fall over the past seven days, with Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan, dropping to ?19,000-19,500 ($174-179) per tonne on Wednesday April 8, down by ?1,000 per tonne week on week.Despite deals being concluded for H2, Japanese exporters told Fastmarkets over the past two days that they had rejected the opportunity to close deals at similar prices, given the reduced scrap collection in Japan and a bullish international scrap market that has...