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Japanese scrap prices under pressure
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The price of high grade scrap was at the same level as the low grade in the global market. South Korea's INI Steel bought H2 scrap from Japan at US$210 per ton C&F. Meanwhile, they purchased No 1 scrap from the US at the same price. In normal conditions, the price of No 1 scrap should be around US$10 per ton higher than H2 scrap. This indicates that Japanese scrap suppliers are facing strong pressure it could affect the Taiwanese rebar and billet market. (Jan. 17)
News Date
1/17/2006 10:16:31 AM
reported by
Thomas Tang
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