Japanese Ferrous Scrap Export Price Increases by 500-1,000 yen

Japanese ferrous scrap export price increased by 500-1,000 yen to FOB 39,000-39,500 yen per tonne for H2 grade to South Korea from last week.

U.S ferrous scrap offer increased to CFR US$ 480-490 per tonne for No.1 heavy melting scrap to export to South Korea. Japanese export price is relatively low for the steel makers in South Korea and Taiwan. The steel makers in Taiwan increase the scrap import from Japan.

Despite the continuous increase in Japanese scrap export price, the price is as same as domestic market price. Japanese market sources see the domestic price could level off.