Japan’s scrap export price goes up

 

Currently, Japan is facing difficulties on price negotiation about scrap export with East Asian buyers. Those buyers from South Korea and China have rejected the scrap prices up exported from Japan as Tokyo Steel has surged its purchase price on scrap four times in a row in November.

South Korea’s Hyundai Steel has currently purchased Japanese H2 scrap at the highest level of ￥30,000/ton FOB (US$360/ton).

Thus, South Korean steel mills may raise the prices of Japanese H2 scrap to ￥30,500/ton FOB (US$366/ton) accordingly.

On the contrary, China has little interest in imported scrap from Japan with the price at ￥30,500/ton FOB (US$366/ton). So far, the deal volume is still slack.

Meanwhile, the current export quotes of H2 scrap are around ￥32,000/ton~￥32,500/ton FOB(US$384/ton~US$390/ton). Japanese traders indicated that the current export prices of H2 scrap is nearly ￥31,500/ton FOB (US$378/ton) at least.

News Date 11/22/2010 7:00:12 AM reported by Kasim Xu