Ferrous Scrap Export Price to Increase from Japan, USA

Ferrous scrap export price shows sign to increase from Japan and from USA. Ferrous scrap price bottomed out in Japan and Japanese export price increased for South Korea. US offer price is higher than Japanese price and US export price increased for Turkey this week.

Japanese ferrous scrap export price is around FOB 29,500 yen per tonne for H2 grade for South Korean Hyundai Steel, according to market sources including Japanese trading firm. The price is around 2,500 yen higher than the bottom in October and 500-1,000 yen higher than last week level. The price increases at the exporters purchase price around Tokyo bay when they try to increase the purchase volume to meet existing export order.

US scrap export price increased to around CFR US$ 424 per tonne for cargo with 80% No.1 heavy melting grade and 20% No.2 heavy melting scrap for Turkey this week compared with the recent bottom of around US$ 410.

Russian scrap export price is still low while Japanese and US export price increased for East Asia and for Turkey. Russian export price was CFR US$ 410-415 per tonne for A3 grade for Hyundai Steel while US offer price is around CFR US$ 430 for East Asia. Japanese dealer source sees Russian exporters try to increase the export for Asian countries including Taiwan when the export slows for Middle East. The source said Russian scrap supply including volume and price is the key for Asian scrap market trend.