Japanese FOB seaborne scrap slumps $26 amid a sea of offers

摘要

Singapore—Japanese seaborne scrap prices fell sharply in the week to Jan. 20, as sellers continued offloading offers to regional buyers, sources said. S&P Global Platts assessed the Japanese H2 FOB Tokyo Bay spot price at Yen 40,500/mt ($390/mt), down Yen 2,700/mt ($26/mt) on the week. Amid a sea of H2 offers heard ranging Yen 41,000-42,000/mt on a FOB Japan basis, tradable expectation from sellers converged at Yen 40,500/mt. South Korean mills, meanwhile, held their expectations below Yen 40,000/mt FOB, with a major mill placing bids at Yen 39,500/ mt Jan. 20.