Japanese scrap quotations for China increase

Japanese scrap quotations for China increase

Recently the price for No. 2 HMS imported from Japan to China increased 10-15 US$/t to 270-275 US$/t (C&F). Japanese traders, who have seen exports to Taiwan and South Korea decrease lately, hope to capitalize on increased Chinese demand for No. 2 HMS. In the past ten days, INI purchased 50-60 thousand tons of scrap from Japan at US$235/t. Meanwhile, the turnings import price is US$293/t (C&F), and No. 1 HMS import price is US$288/t (C&F).