JAPAN STEEL SCRAP: Prices move up as buyers rush to market

Prices for bulk cargoes of Japan-origin scrap have increased over the past week on strong demand from buyers in South Korea, Taiwan and Vietnam, market participants told Fastmarkets on Wednesday July 15.

Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan, was ?23,000-23,500 ($214-219) per tonne on Wednesday, up by ?500 per tonne week on week.
One cargo of Japanese H2 scrap was sold at ?25,300 per tonne cfr South Korea earlier this week, which Fastmarkets was told would be equivalent to ?23,000 per tonne fob.
A deal to Taiwan of Japan H1:H2 (50:50) was heard at $254 per tonne cfr, with bids at $250-253 per tonne cfr, which sources said would be around ?23,500 per tonne fob.

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