JAPAN STEEL SCRAP: Tight supply, strong demand boost export prices again

Export prices for bulk cargoes of Japan-origin scrap increased again over the past week, with continued low supply combining with firm demand, market participants told Fastmarkets.

Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan, was ?24,500-25,000 ($229-234) per tonne on Wednesday July 22, up by ?1,500 per tonne week on week.
Japanese H1:H2 scrap was sold to Taiwan at ?25,000 per tonne fob earlier this week, equivalent to ?24,500 per tonne fob for H2-grade scrap.
Offers for H2 ranged from ?25,000-25,500 per tonne fob, up from ?23,500-24,500 per tonne fob a week earlier.

H2 bids from South Korea were heard at ?23,500 per tonne...

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