Asian ferrous scrap market participants expect short-term hit amid stronger yen, banking concerns

Market participants in the Asian ferrous scrap markets have become increasingly bearish over the last few days amid shorter-term headwinds from forex and banking issues, but remain optimistic for next month’s outlook, sources told Fastmarkets.

Major reasons cited by market participants for the recent price drops include the stronger Japanese yen — making exports less appealing to US dollar-denominated buyers — and Asian equity markets...

Published

Lee Allen

March 20, 2023

18:19 GMT

London