TOKYO (Scrap Monster): According to reports, the export prices of Japanese H2 scrap to South Korea increased by ¥ 500/ton to touch ¥ 32,500/ton. However, South Korean buyers were seen unwilling to purchase due to higher scrap prices.
The price drop of rebar in domestic South Korean market has slowed down the Japanese scrap exports to the country. The local rebar prices dropped by nearly 15,000 won per ton in South Korea during last week.
Meanwhile, average price of Japanese H2 scrap continued to increase during the third week of April. This is the fifth straight week that Japanese H2 scrap prices have gone higher in the country’s Kanto, Central and Kansai region.
The average price of Japan H2 scrap in Kanto, Central and Kansai region was ¥ 30,757/ton during the third week of April. The prices climbed higher by ¥ 282/ton from the previous week.
The average price of H2 scrap in Kanto region was ¥ 31,500/ton. The average price in Kanto region saw rise of ¥ 333/ton from the previous week.
The average H2 scrap price in Central region was ¥ 28,520/ton. The average prices increased by ¥ 200/ton when compared with the previous week.
Also, the H2 scrap average prices increased in Kansai regions. The average price of H2 scrap in Kansai region during the third week of April was ¥ 32,250/ton, higher by ¥ 312/ton over the week.
Author: Paul Ploumis