Japan Export Ferrous Scrap Price Increases

Japanese ferrous scrap export price increased to FAS 36,723 yen per tonne by 1,273 yen for H2 grade in September shipping at averaged bid in export tender held by Kanto Tetsugen on Thursday from previous tender. The price slightly exceeded record in April order at 36,260 yen.

The bidders ordered at 40,000 tonnes. A trader got the 5,000 tonnes order at 37,120 yen per tonne of bid and B trader got order at 36,700 yen for 5,000 tonnes, C trader got order at 36,550 yen for 5,000 tonnes and D trader got order at 36,520 yen for 5,000 tonnes . Average bided price increased for 3 months.

Fifteen traders out of 15 eligible traders submitted 18 bids for the tender. The total bids decreased by 20,000 tonnes to 106,000 tonnes at the tender from previous tender.

The association said the successful bid slightly was higher than originally expected despite of cheaper yen rate. The association pointed out the market price is prospected to slightly decrease after bon holiday when many electric furnace makers make a pause their operation.