International scrap market continues to decline

Japanese scrap market remains weak. Japanese scrap prices fell to the lowest since April 2009 level, the 2nd heavy scrap average price of ¥ 18,107 / tonne ($ 146 / ton), 11 consecutive weekly decline, the cumulative decline ¥ 6,219 / tonne. Tokyo Steel since Sept. 6 times lower scrap buying prices, the cumulative down ¥ 3,500 / tonne. Japanese scrap export market also fell sharply.

Last week Dongkuk Steel imports from Japan on the 2nd heavy scrap price is 18,000 yen / ton (FOB), compared with the previous week fell ¥ 1,000 / tonne, the new transaction is expected to fall to 17,000 yen price / ton (FOB). Vietnamese steel procurement price of heavy scrap in Japan on the 2nd of $ 185-190 / ton (CFR), last month, down $ 30-35 / tonne.

East Asian scrap import market remains weak, the bulk mixture No. 2 heavy scrap (80:20) import price last week dropped $ 5 / ton to $ 200-210 / ton (CFR). Allegedly, the United States spent the bulk weight to Thailand reported $ 200 / ton (CFR), no deal. South Korean imports of Russian A3 scrap price from the previous $ 199 / ton (CFR) fell to $ 195 / ton (CFR). In China Taiwan, Container mixture No. 2 heavy scrap (80:20) import price dropped $ 168 / ton (CFR).