Japan’s ferrous scrap export tags continue to lose ground

Apr 11, 2013 | 10:44 AM |

Tags  Japanese scrap, ferrous scrap, H2 scrap, heavy melt scrap, scrap prices, Tokyo Steel Manufacturing, Hyundai Steel, Posco Specialty Steel Dongkuk Steel Mill

TOKYO — Japanese ferrous scrap export prices continue to fall as South Korean mills, in particular, move to cut their scrap purchasing prices both at home and abroad.

The highest winning bid at the latest auction by Tokyo-area scrap dealers for deliveries next month of H2 grade scrap (a mix of No. 1 and No. 2 heavy melt) fell 3.5 percent from last month’s auction to 33,670 yen ($338) per tonne f.a.s., or around 34,700 yen ($349) per tonne f.o.b.....

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