‘Hot’ ferrous scrap frenzy draws industry’s ire

Aug 12, 2014 | 05:04 PM | Sean Davidson

Tags  scrap, ferrous scrap, radiation, Japan scrap, South Korea Nuclear Safety and Security Commission, Sean Davidson

NEW YORK — Market participants have slammed mainstream media frenzy over South Korea’s rejection of a small amount of ferrous scrap imported from Japan.

Some 20 kilograms, or about 44 pounds, of ferrous scrap containing higher levels of cesium 137 than permitted will be returned to Japan, South Korea’s Nuclear Safety and Security Commission said Aug. 11. The contaminated scrap was found in a 20-tonne shipment from a large Japanese exporter to a Korean mill.

News wires and mainstream media disseminated the news rapidly across the globe, causing much concern about nothing, a senior executive at a Korean steel producer said.....

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