JAPAN STEEL SCRAP: Low demand pushes down H2 prices, high grades hold firm

Lower demand for Japanese H2 and H1:H2 heavy scrap from key foreign markets led to slightly lower prices for these grades in the past week, while prices for high-grade material have remained firm.

"I don't think overseas customers can follow last week's Japan scrap prices now - most Taiwanese buyers skipped purchasing Japanese scrap since there were more cargoes available from the United States," a Japanese scrapyard source said.
Taiwanese sources told Fastmarkets this week that the reluctance of mills in the country to buy steel scrap at last week's prices was partially due to the recent drop in Chinese steel and iron ore prices.
"Japanese exporters have started to lower offer prices [for some grades] - the market hasn't dropped but it seems very hard to push prices higher now," the Japanese scrapyard source said.

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