Japanese scrap prices set to rise further

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Nov 2008

It is reported that the current price of H2 scrap between Japan and China is settled at USD 200 per tonne FOB and may go up in near further, but it’s doubtful that when it will stop increasing. The reduction of round bar’s output has caused the scrap demand from Japanese electric steel mills declines and if China decreases the purchasing volume, Japanese scrap market may get into trouble again.

The traders will increase the scrap export price because Japan will sell 300,000 tonnes scrap to China during December 2008.

Source: YIEH.corp