Japanese steel scrap export prices fell again in the week to Thursday November 18, after lower-priced deals to South Korea emerged, sources told Fastmarkets.
A major South Korean mill purchased about 30,000 tonnes of Japanese steel scrap at bid prices that it had lodged earlier this week, sources told Fastmarkets on Thursday.
On Wednesday, the mill bid at ?49,500 ($432) per tonne fob for H2 scrap, ?56,000 per tonne fob for shredded, ?57,000 per tonne fob for heavy scrap (HS) and ?63,500 per tonne fob for Shindachi bara prime scrap.
Fastmarkets heard the South Korean buyer had to reject more than half of the material it was offered by suppliers at those bid prices. The H2 bid price was down by ?2,000 per tonne from the
previous sales of H2 heard to this buyer at ?51,500 per tonne fob around two weeks ago.
Bids for H2...