JAPAN STEEL SCRAP: Limited export sales amid strong local market, wide bid-offer gap

June 03, 2021 / www.metalbulletin.com / Article Link

A large gap between bids and offers ensured that only limited business took place in the Japan steel scrap export market over the past week, sources said on Wednesday June 2.

Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan, was ?46,000-48,000 ($420-438) per tonne on Wednesday, down from ?47,000-48,500 per tonne one week earlier.
Japanese H2 was heard sold to a South Korean buyer at ?46,500 per tonne fob this week, with bids coming in to the same South Korean mill at ?46,000 per tonne.

"Only [South] Korea is willing to buy Japanese scrap now; other countries don't want to," a Japanese scrap trader said, adding that market participants were awaiting the results of a tender by a major South Korean...

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