Japan's scrap prices to rise after Feb.; exports up: BIR
Feb 05, 2014 | 02:46 PM
| Weilyn Loo
SINGAPORE Japans ferrous scrap demand is holding steady as its economy recovers, with market prices seen resuming an upward trend after February, according to a quarterly Bureau of International Recycling (BIR) report.
Japans current export price for H2 grade scrap (a mix of No. 1 and No. 2 heavy melt) is about 35,300 yen ($348) per tonne f.o.b., equivalent to about $380 per tonne c.f.r. South Korea for No. 1 HMS.
This means that scrap prices in Japan are still cheaper than those for European and U.S. scrap, Hisatoshi Kojo, executive director of Tokyo-based scrap trading company Metz Corp. and a board member of the BIRs Ferrous Division, said in the Jan. 30 report.....
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