Japanese scrap export tags rise on rebound in demand

Jan 17, 2013 | 12:23 PM |

Tags  Japanese scrap, ferrous scrap, H2-grade scrap, Tokyo Steel Manufacturing, scrap prices, scrap exports

TOKYO — Japanese scrap prices have jumped for a third consecutive month in the latest export auction on the back of rebounding demand, although some question whether the gains can be sustained.

Tokyo-area scrap dealers’ highest winning bid for February deliveries of H2-grade scrap (a mix of No. 1 and No. 2 heavy melt) was 32,850 yen ($367.63) per tonne f.a.s., up 23 percent from the prior level. Participants successfully bid for more than 20,000 tonnes.....

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