Export prices for bulk cargoes of Japanese scrap extended their upward movement for a fourth week ahead of an extended holiday period, market sources told Fastmarkets in recent days.
Japanese scrap sellers continued to sell cargoes to Vietnam, Taiwan and South Korea over the past week, while negotiations were also taking place involving buyers in Bangladesh following increased demand in the South Asian country.Adding to the upward movement in the markets was the decision by key scrap buyer Tokyo Steel to raise its purchase...