JAPAN STEEL SCRAP: Rise in heavy scrap prices stalls on dropping demand

Prices for cargoes of H2-grade heavy scrap exported from Japan hit a ceiling over the past week amid static levels of demand from South Korea and Taiwan, sources told Fastmarkets on Wednesday September 2.

Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan, was ?27,500-28,500 ($260-269) per tonne on Wednesday, unchanged week on week. But it followed two weeks of consecutive increases in the Japanese market.
Japan's H2 export price has been under pressure over the past week with mills in South Korea refusing to pay higher prices and, in some cases, reducing bids because of the high stocks of scrap in that country, sources said.
Japanese offer prices for H2 were heard at ?28,000-29,000 per tonne fob on Wednesday, down from ?28,500-29,000 per tonne fob one week earlier.

A Japanese exporter said that South Korean and Taiwanese...

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