Japanese Ferrous Scrap Price Signals a Rebound

Japanese ferrous scrap price signals a rebound caused by increase of export price for Korea. Japanese scrap price is estimated to rise within a certain margin because export price for Korea continued to increase on the background of rapid rise of the composite price in the United States. Around Obon season (the middle of August) Japanese scrap is expected to be in short supply, so the market is steady undertone.