US scrap prices on downward trend
YIEH reported US scrap prices had been on a downward trend last week. The average price of No1 scrap was at USD 259 per ton, down by USD 1.67 per ton compared to the two weeks ago. However, it is predicted that the scrap prices in the US will increase, bolstered by higher sea freight.
The average price of scrap in Japan's three regions also decreased, as Japan's No 2 scrap average price was at JPY 35,874 per ton, reducing by JPY 701 per ton than the previous week. Currently the quoted price is influenced by the movement of exchange rate and ocean freight.
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