Though the overall positions of Japanese scrap exporters have been strong recently and they have been insisting on higher prices, some sales with discounts have been registered to South Korea. Deals for H2 scrap have been done at JPY 26,500/mt ($244/mt) FOB, which corresponds to about $269/mt CFR, SteelOrbis has been informed. The FOB price has been JPY 500/mt ($4.6/mt) below most sellers’ offer level. The sales volumes are unknown at the time of publication. Sources said that it is unlikely that suppliers will be ready to sell large volumes at discounts.
Japanese suppliers have continued to switch their focus from sales to the weaker South Korean market to the more profitable and fast-growing markets in Vietnam and Bangladesh.
$1 = JPY 108.704
