Japanese billet export price made by electric furnace maker is decreasing. South Korean buyers offered its import price at FOB US$ 680 per tonne in the last half of September due to rapidly decreased ferrous scrap price, which are maintaining see-and-wait stance. The offer price from Middle Asia fell below FOB US$ 500 per tonne in recently.

 

The export price increased to FOB US$ 1,074 per tonne to South Korea in July-August shipping. After ferrous scrap price decreased, the export price reduced by a large margin. Ferrous scrap price in USA decreased to around US$ 300 per tonne. Dealer source said billet export price may close to US$ 400. Japanese ferrous scrap and billet price is likely to keep decreasing at the moment. –Japan Metal Bulletin