Prices for plate and structural-grade scrap (P&S), known as HS in Japan, have shown a slight increase over the past week on strong demand from mills in both Japan and China, sources told Fastmarkets on Thursday January 7.
China booked at least four steel scrap cargoes from Japan in the first week of 2021 following an easing in the country's import regulations, with most of these deals done for HS heavy-scrap cargoes.Offers of Japanese HS were heard at $500 per tonne cfr China, but weaker Chinese domestic scrap prices meant that bids only came in at $450 per tonne...