Monday, April 04,
China, the second biggest buyer of Japanese scrap have blocked fresh orders of scrap cargoes from Japan over the fear of radiation contagion consignment from its nuclear plant.*
Chinese buyers stopped taking new orders shortly after the radiation problem was detected and almost all cargoes from Japan were prohibited unless provided with a third-party guarantee,” said by Singapore-based scrap metal trader.
Scrap prices are falling after the March 11 earthquake even after increased supply from Japan, the world’s biggest exporter of scrap steel after the U.S. on concern over radiation leaking from Tokyo Electric Power.
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