Japanese scrap export prices continued to increase over the past week on strengthening demand for high-grade material in Japan and South Korea, sources told Fastmarkets.
"Korean and Japanese mills want the premier grades so the gap between H2 and Shindachi and heavy scrap (HS) keeps rising," a Japanese scrap trader said on Wednesday June 30.
Offers for Shindachi busheling were heard at ?62,200-62,300 ($563-564) per tonne fob late last week, while a sale involving this grade was made to South Korea at ?62,000 per tonne fob this week. A bid from a South Korean mill was lodged at ?60,000 per tonne fob.
Fastmarkets' price assessment for
steel scrap Shindachi, export, fob main port Japan was ?61,000-62,000 per tonne on Wednesday June 30, up by ?1,000 per tonne from ?60,000-61,000 per tonne fob a week earlier.