Japanese Scrap Exports Remain Sluggish

It's reported that Japan's scrap exports to South Korea were
sluggish recently. The deal prices of HMS 2 have remained flat at JPY 34,000/MT
FOB.

Industry sources indicate that Japanese scrap market would remain
quite in September due to holidays in the end of September. It's estimated that
Japanese steel mills might decline the purchase to balance the inventory.

Meanwhile, South Korean buyers said that they were unwilling
to purchase the high priced Japanese scrap recently as they had sufficient
supply and the scrap prices were expected to drop further in the South Korean
domestic market.

However, dealers predicted that South Korean buyers would
increase the purchase after the power restriction policy was lifted in
September.