ASIA FERROUS SCRAP: Import prices for Japanese H2 in Vietnam soften after Tokyo Steel cut

摘要

Spot prices for Japanese H2 scrap in Vietnam softened in the latter half of this week after Tokyo Steel, a major buyer of the steelmaking raw material in Japan, slashed the amount it would pay for it. But prices for heavy melting scrap in Taiwan started to strengthen at the start of the week on a rebounding scrap market in Turkey, and held steady thereafter due to thin market liquidity. The mixed signals left market participants slightly confused with their price outlook. While some said prices could continue to trend upward after the United States’ Independence Day holiday, others said softer markets in Japan and the rest of Asia could keep this from happening.