Export prices for Japanese steel scrap have continued to rise over the past week amid high demand from South Korea as well as local buyers in Japan, sources told Fastmarkets.
The scrap export market for Japan resembled a tug-of-war last week, with a major South Korean buyer lowering its bid prices by ?1,000 ($9) per tonne while the outcome of the June 9 auction of the Kanto Tetsugen - a cooperative of scrap dealers in Tokyo and the region surrounding it - caused sellers to raise their offer prices."There is a belief that...