Japan Ferrous Scrap Export Price Drops at Kansai Tetsugen’s Tender

Japanese ferrous scrap export price was FAS 25,600 yen per tonne for H2 grade at export tender held by Kansai Tetsugen, which is association of scrap dealers around Osaka, on Friday from previous tender. The price was lower than 26,500 yen of first bid and 26,350 yen of second bid at previous tender on May 25. Japanese scrap export price also decreased to 26,055 yen at tender by Kanto Tetsugen on July 11. An exporter got the 6,000 tonnes of contact to ship from August 20 to September 30. Twelve exporters submitted 12 bids for the tender while 8 eligible exporters rejected to submit. The averaged bid for 12 bids decreased by 791 yen to FAS 24,713 yen per tonne for H2 from average at previous tender. Five of the 12 bids were more than 25,000 yen compared with 10 bids at previous tender. Hyundai Japan joined the tender for the first time. The total eligible exporters increased to 20 firms.