Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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November 2014 | Steel Raw Materials


Japanese scrap prices stabilise through November: Scrap Highlights


MBR heard anecdotal evidence that South Korean mills adopted a “take it or leave it” stance with respect to low bids for Japanese H2 grade scrap exports, given the persistent downward trajectory and competitiveness of South Korean local scrap prices through October.

Japanese scrap benchmarks stabilised through the first half of November, after prices fell substantially through October 2014 due to ample domestic supply availability and slack export demand. In fact, MBR understands that price declines over this period were severe enough to prompt some Japanese peddlers to increase deliveries of material to yards towards the month-end in order to realise cash flow before prices experienced further sharp declines. Consequently, scrap suppliers witnessed steady flows through their yards which exceeded domestic mills’ melting...

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