Japanese H2 scrap export prices to South Korea drops

TOKYO (Scrap Monster): According to reports, the export prices of Japanese H2 scrap to South Korea dropped by nearly ¥ 1,000/ton to touch ¥ 33,500/ton. However, South Korean buyers were seen unwilling to purchase due to higher scrap prices.

The demand for H2 scrap continued to remain low. The buyers were seen negotiating for lower price. The South Korean buyers were seen unwilling to buy scrap at current price levels mainly on account of increased imports from the US and Russia.

Meanwhile, Tokyo Steel had announced a cut of ¥ 500/ton in scrap purchasing prices effective July 8^th, 2014 at its Utsunomiya works. Post cut, the average scrap purchasing price now remain in the range ¥ 32,500~ ¥ 34,000/ton.

The scrap purchasing prices at Okayama works in Western Japan were at ¥ 33,500/ton and those in Kyushu works remained flat at ¥ 33,500/ton.

Tokyo Steel’s scrap purchasing prices in Tahara works in Central Japan were at ¥ 34,000/ton, while those in Takamatsu steel center were at ¥ 32,500/ton.

The scrap purchasing prices at Utsunomiya works in northern Kanto have now dropped to ¥ 33,500/ton.