According to Mining News Pro - In fact, purchases are only for immediate needs. The reason is the descending trend of billet and rebar which makes them high in risk and difficult for planning.

Currently, instant shipping looks more reasonable. Buying Japan’s scrap takes two weeks to be delivered but US scrap delivery takes more than a month and during the period the prices might fluctuate.

Last Thursday, A3 Russia steel scrap price was 210 usd/t (CFR South Korea) while two weeks ago same commodity was traded by 247 usd/t. This means 37 price decrease in two weeks and financial loss for buyers that bought it two weeks ago.