Downward trend in Japanese scrap prices continues

Prices for H2 grade scrap from Japanese ports have decreased to USD 340-343/mt FOB, with a decrease of USD 5-7/mt in the last two weeks. For the Vietnamese market, the indications for September shipments of HMS 1&2 scrap from the US are at USD 390/mt CIF, down at least USD 15/mt compared to mid-July.

After the increasing competition and a sharp drop in supply in key markets, Japanese producers are expected to make more significant concessions. Some experts predict that prices for H2 scrap in September shipments will not exceed USD 330/mt FOB.