Japan Ferrous Scrap Exporters Offer FOB 30,000/t or More

Japanese ferrous scrap export offer exceeded FOB 30,000 yen per tonne for H2 grade for South Korean buyers when Japanese scrap market increases. The exporters try to take chance for higher price when US scrap export price reached CFR US$ 435 per tonne for recent transaction and more than CFR US$ 440 for recent offer, which are higher than Japanese export price.

Japanese scrap export price is around FOB 29,500 yen per tonne in actual deals recently for South Korean steel makers. Japanese exporters offer more than 30,500 yen for the offshore buyers while the buyers are reluctant to accept the higher offer. Japanese exporters try to avoid low priced export transactions when Japanese scrap price increases. They apparently cannot get new transaction.

Japanese scrap offer price also increases for westbound scrap shipping from Tokyo to Osaka. The offer is more than 31,000 yen per tonne including freight for ocean transport while local steel makers around Osaka pay 27,500-29,000 yen for H2 grade scrap.