September 07, 2008

Japanese H2 scrap export to Taiwan takes pause

The H2 scrap export from Japan to Taiwan has suspended due to depreciation of US dollar against Yen.

Moreover, the domestic price of scrap keeps soaring in Japan, as Tokyo Steel increased its purchase price of scrap by USD 10.12 per tonne on March 19.

According to estimate, the quotation of H2 scrap offered from Japanese trading companies to Taiwan is at least USD 600 per tonne CIF because of the appreciation of the Yen against the USD and soaring sea freight over USD 50 per tonne from Japan to Taiwan.

So far, Taiwanese mills are reluctant to purchase from Japan owing to the high costs on loading and unloading operation and land transportation.

(Sourced from YIEH)