Japanese scrap export prices rise 18.1%
Japanese ferrous scrap export prices increased by 18.1% in the last month amid growing interest from buyers in neighbouring markets.
H2 quality scrap averaged Yen 23,150/t ($211/t), fas, for September shipments at a tender organised on Friday by Tokyo-based exporters’ grouping Kanto Tetsugen.
Traders won 10,000t of export contracts at the tender.
The average price is Yen 1,000/t higher than that achieved at an export tender held by dealers in Osaka last Monday and marks the second month in a row that export prices have risen.
Traders say prices are being driven higher by the re-emergence of interest from Taiwanese and South Korean buyers, who have been noticeably absent from the market since April.
H2 quality scrap averaged Yen 23,150/t ($211/t), fas, for September shipments at a tender organised on Friday by Tokyo-based exporters’ grouping Kanto Tetsugen.
Traders won 10,000t of export contracts at the tender.
The average price is Yen 1,000/t higher than that achieved at an export tender held by dealers in Osaka last Monday and marks the second month in a row that export prices have risen.
Traders say prices are being driven higher by the re-emergence of interest from Taiwanese and South Korean buyers, who have been noticeably absent from the market since April.