Singapore—Japan’s scrap export market saw severe weakness as prices tumbled $16/mt week on week, amid continued poor demand from both overseas and local markets, regional sources said. S&P Global Platts assessed the Japanese H2 FOB Tokyo Bay price at Yen 23,000/mt ($210/mt) Wednesday, down Yen 1,800/mt from a week ago. South Korean buyers were heard concluding FOB basis deals at Yen 24,000/ mt earlier on Monday, but prices continued to decline as multiple offers came pouring in even to Yen 23,000/mt levels Wednesday.
展开▼
