Scrap Prices North America
August 29, 2013
Asian Scrap Markets: Have Prices Hit a Plateau?
Written by John Packard
The Far East and Southeast Asian ferrous scrap markets have been on the uptrend since the end of July. Since mid-July, scrap prices have risen approximately $20-$25/metric ton. This coincides with Tokyo Steel in Japan increasing scrap prices twice by approximately $24/MT.
The increase in scrap prices were reactionary as steel stockists ramped purchases from inventory lows as USA scrap prices and Japan scrap prices rose. However, this apparent demand in construction steel is mainly on the stockist level as opposed to actual demand increases. Furthermore, the increased apparent demand seems more isolated to Taiwan and in China versus other Asian markets.
