Chinese buyers stopped new orders of scrap steel from Japan and blocked some existing cargoes because of concern over radiation from a crippled nuclear plant, researcher Umetal.com said.
China, the second-biggest buyer of scrap metal from Japan, “stopped taking new orders shortly after the radiation problem was detected and almost all cargoes from Japan were prohibited unless provided with a third-party guarantee,” Zhao Ziyi, an analyst at Umetal.com, said from Beijing. Umetal controls H&C S Holdings Pte Ltd., a Singapore-based scrap metal trader.
