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WEEKLY: Japan’s steel scrap prices up another $5/t

Japan’s ferrous scrap prices for both domestic sales and exports rose another $5/t on week over July 27-31, or up for the fourth week as inquiries from the overseas customers remained active, offsetting the lull from the domestic market with many mill under the summer maintenance, traders in Tokyo and Nagoya in central Japan shared.
A Tokyo-based scrap trader noted that the Japanese scrap suppliers have been receiving more inquiries from abroad and scrap distributors have started holding off sales on the anticipation of further price rises, forcing the few domestic steel mills that are still procuring to raise their bids. Tokyo Steel Manufacturing, Japan’s top-electric-arc furnace producer, for example, raised

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