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Scrap export prices to Korea remain flat from Japan

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Publish time: 28th May, 2013      Source: ChinaCCM
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According to report, Japanese export scrap price to Korean buyers about the same or slightly up by only ￥500/ton from last week's price.

Although the Japanese trader tried to raise export prices from lower yen, the demand remain slow from the Korean mills. Lower export prices for US scrap also affected the offers to Korean buyers.

JFE Steel and Nippon Steel & Sumitomo Metal Corp. (NSSMC) also have started to increase their purchase of scrap from domestic market. Therefore, only the lower grade of scrap price has increased but only limited volume of scrap is sold at oversea market.

Japan's integrated steelmakers plan to raise production and export more on weak yen and they prefer to consume more scrap since the imported iron ore and coal prices are relatively expensive than before.