Japanese scrap offers to Vietnam tick up

Monday, 11 March 2019 23:06:52 (GMT+3)   |   San Diego
       

According to sources close to SteelOrbis, the Japanese domestic scrap market strengthened over the month of February and it is expected to remain firm, and possibly increase further, through March. With the stronger domestic market pricing and adequate export demand, sources inform SteelOrbis that Japanese H2 scrap offers to Vietnam are presently at $343-347/mt CFR a price they report as up $10-15/mt compared to a month ago. A source added that H2 export prices are being supported by a strong US domestic scrap market which in turn has firmed up US export prices. US scrap exports are an alternative source to Japanese scrap in the southeast Asian region.


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