The Japanese scrap export market was silent last week and had no buyers. The offered prices have also had a downward trend and have reached the lowest level in the last four months. It is not bought in the export market and probably the suppliers will focus on the domestic market.
According to Iran Steel, the latest average price of Japan’s Class 2 heavy scrap has reached $358 per ton fob with a weekly drop of $14.
It is expected that the offered prices of Japanese scrap for export will decrease again due to the stagnation of domestic and export demand. But due to the growth of global prices, maybe Korean and Vietnamese buyers will turn to the Japanese market.
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