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Japan’s scrap market remains uncertain
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Recently, the Japanese scrap market has fallen due to decreased iron ore prices and lower demands.
It’s known that Tokyo Steel has cut the scrap purchasing prices for consecutive five times since August 25th and the accumulative price cut has reached ￥1,500~￥2,000/ton.
Industry sources said that the blast furnace (BF) steel mills will reduce using scrap as the iron ore prices are falling and they may supply more self-produced scrap to mini mills, disturbing the balance between demand and supply and causing the scrap prices drop.
However, some traders said that the scrap prices may rebound in the near further as most mini mills have completed the annual maintenance and have been replenishing the scrap stocks to resume production.
News Date
9/11/2012 8:12:53 AM
reported by
Tammy Chien
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