Japan Ferrous Scrap Export to Hit Bottom

Japanese export ferrous scrap price shows sign to hit bottom recently. The price is FOB 26,800-27,000 yen per tonne for H2 grade when the order increases from Taiwan and Southeast Asia to secure cheaper Japanese scrap than US scrap.

The export price is FOB 26,000 yen per tonne level for South Korea as last week. However, South Korean buyers apparently add 500 yen per tonne depending on the volume. Japanese dealers expect the higher export price would support Japanese scrap market.

East Asian scrap industry interests watch US export price for East Asia. South Korean import price hit CFR US$ 390 per tonne for US scrap recently. The narrower price gap with Japanese scrap would reduce Japanese scrap export.

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