Japan scrap tags rise on S Korea, Taiwan interest | American Metal Market
Renewed buying interest from consumers in South Korea and Taiwan resulted in another increase in Japanese export scrap prices in the week to Wednesday December 16, market participants told Fastmarkets. Prices surged last week amid a leap in December’s Kanto steel scrap auction and robust domestic buy prices, but greater demand from key Asian buyers allowed another jump in prices this week. Japanese H1:H2 (50:50) was heard sold at $440 per tonne cfr Taiwan this week, which sources said is equivalent to ¥42,500-43,000 ($409-414) per tonne fob. A South Korean steelmaker purchased around 60...
Source: amm.com