Japan Ferrous Scrap Price Drops by 1,000 yen/t
Japanese ferrous scrap price decreased by 1,000 yen per tonne late last week. The price decreased to 32,000-33,500 yen per tonne for H2 grade at local steel makers purchase price including freight, which is 2,500-3,000 yen lower than last week level and 5,000-6,000 yen lower than recent peak in mid-April. The makers reduce the purchase price gradually when the supply gets looser due to slower scrap shipping for export market.
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