Ferrous Scrap Export Resumes in Osaka

Ferrous scrap export resumed in Osaka. Kansai Tetsugen, which is group of ferrous scrap dealers around Osaka, held the export tender on Thursday. The successful bid was averaged FAS 19,460 yen per tonne for H2 grade from Osaka bay, which was the first successful tender since June. The price was around 5,000 yen higher than the price at tender held by Kanto Tetsugen on November 11.

A Tokyo based scrap dealer won the tender through the bids with 19,700 yen and 19,100 yen per tonne for H2 grade to ship total 10,000 tonnes of scrap by February 5.

Electric furnace steel makers around Osaka pay 15,000-16,500 yen per tonne for H2 grade scrap. The price is peaking when local steel makers are in major output reduction. However, some dealers expect the market could increase when electric furnace steel makers increase the scrap purchase price in other areas.