FERROUS SCRAP ROSE IN JAPAN

Ferrous scrap prices rose in Japan during the week, market sources said.

However, the bulk heavy melting ferrous scrap import market remained quiet in East Asia on weakness in the iron ore spot market and low-priced Chinese rebar and billet.

Tokyo Steel Manufacturing, Japan's leading mini-mill, raised its scrap buying prices by Yen 500/mt ($4.12/mt) for all grades at all works effective from December 10 arrivals, its first increase in about six months for most of its steelworks.

The mill's H2 buying price at its Utsunomiya works, north Tokyo, was raised to Yen 15,500/mt.