Japanese scrap market likely to become weak

Japanese scrap suppliers expect scrap market
in Kanto region to become weak after the vacation during September 23rd – 25th.

Two weeks ago, Tokyo Steel hiked the scrap purchase prices by US$ 6-7/MT at its Utsunomiya plant.
However, prices remained unchanged at its 4 other plants.

Currently, the prices for HMS II scrap in Tokyo Bay region were at US$ 449/MT,
which were US$ 13/MT lower than US$ 462/MT in Kanto region. Also, the HMS II scrap prices in Osaka region were at 462/MT