Japanese scrap export prices rose slightly in the week ending 30 June amid tight supply but a wide bid-offer spread was apparent. The McCloskey weekly H2 grade scrap FOB Tokyo Bay assessment increased by ￥500/t ($3.45/t) to ￥50,000/t ($345.30/t). Japanese suppliers targeted ￥50,000-51,000/t FOB for H2 scrap exports, up ￥50,000/t FOB compared with the previous week. Negotiations with Taiwan were hovering around $380/t CFR for H1&H2 50:50 materials, lower than the latest booking in the prior week at $385/t CFR because of a weaker yen. Japanese offers to Taiwan have been numerous, deterring buyers from booking material.
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