Japan Ferrous Scrap Export Price Rises at Monthly Tender

Japanese ferrous scrap export price increased for the first time in 2 months at monthly export tender held by Kanto Tetsugen on Tuesday. The price increased by 397 yen to FAS 35,230 yen per tonne for H2 grade for July shipment. Japanese export price increases with higher market price in USA and higher purchase price by Hyundai Steel of South Korea. Four exporters got the total 20,000 tonnes of order to ship by August 15 at 35,300 yen per tonne, 35,250 yen, 35,220 and 35,150 yen each. Fourteen exporters out of eligible 15 firms submitted 20 bids while an exporter didn’t join the tender. The total bids were 106,000 tonnes, which was 3,600 tonnes from previous month. The successful bids were 1,790 yen per tonne higher than result at export tender by Kansai Tetsugen on May 29. Kanto Tetsugen said the result is in line with the market condition when the export price increased in the month despite of the slower contract volume. The scrap dealers’ association said the tender could change the market mood positively.