JAPAN SCRAP EXPORTS: Price drops cushioned by lower collection rates

Prices for Japanese ferrous scrap continued to soften over the past week, but the scale of the decline was tempered by falling collection volumes, market sources told Fastmarkets on Wednesday April 1.

Japanese H2 scrap prices have fallen by ?4,000 ($37) per tonne over the past seven weeks, and these weaker prices, together with slowing industrial activity due to the spread of the Covid-19 pandemic, were choking inflows to scrapyards.
"Many suppliers are not offering material right now. They are not confident they can collect scrap in May due to the effects from the coronavirus," one major Japanese exporter said.

The most dramatic reduction in collection volumes has been seen in Shindachi busheling scrap, largely due to virus-related closures at the Toyota...

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