Japan Ferrous Scrap Export Price to Decrease for East Asia

Japanese ferrous scrap exporters cannot get new order from East Asian buyers. Recent export transaction was FOB 30,600-30,800 yen per tonne to Hyundai Steel but the price is lower than domestic price. A trading firm source said Japanese scrap exporters couldn’t get new order when Hyundai Steel tries to buy Japanese scrap at around FOB 30,500 yen.

US scrap export price started to decrease while Japanese scrap export price is flat at around FOB 30,000 yen per tonne. US composite price decreases when scrap market price decreased in Philadelphia where major scrap dealers have yards. US scrap export price is around CFR US$ 375 per tonne for Taiwan buyers for heavy melting scrap.

Japanese scrap exporters concern the lower US scrap export price could impact on Japanese export price. Japanese export price was around CFR US$ 405 per tonne for Taiwan but Japanese exporters see Taiwanese buyers could seek lower price as the price for South Korea.