JAPAN SCRAP EXPORTS: Prices down again on strong yen, lower demand

摘要

Japanese export ferrous scrap prices have declined for a second consecutive week with a stronger yen making material from the East Asian country less attractive, sources told Fastmarkets on Wednesday March 11. Fastmarkets’ price assessment for steel scrap H2 export, fob main port Japan, settled at ￥22,500-23,000 ($215-220) per tonne on Wednesday, down by ￥500-800 per tonne week on week from ￥23,300-23,500 per tonne. Japanese sellers have been aggressive in their scrap sales over recent weeks while their domestic market deteriorated, but the rise in the yen has made Japanese scrap more costly on a US dollar basis, and has made it difficult to close deals.