Scrap export price decreased by 255 yen to FAS 26,055 yen per tonne for H2 grade for August shipment at successful bid of export tender held by Kanto Tetsugen on Tuesday. The price decreased by total 245 yen in past 2 months. A trader won the tender at 26,080 yen per tonne while another trader won the tender at 26,030 yen for 11,000 tonnes of export contract each. They will ship the scrap by September 15. Twelve trading firms of eligible 15 traders submitted 14 bids while 3 traders reject to submit bid. Twelve bids of the 14 were more than 25,000 yen per tonne. The 12 firms offered 88,500 tonnes of export, which decreased by 20,500 tonnes from previous tender. Chairman Atsushi Watanabe of Kanto Tetsugen said the successful bids was in line with the trend though the prices were just lower than expected after Tokyo Steel Manufacturing reduced the scrap purchase price, US composite scrap price decreased and foreign exchange rate of yen decreased recently. Mr. Watanabe said the domestic scrap market price has uncertainty when electric furnace steel makers around Tokyo will reduce scrap purchase price with the outage plants though the price could rebound in August.
Japan Steel Scrap Composite Prices (Sangyo Press)03/30/2023
|52800YEN (-)||54000YEN (-)|
|395.36US$ (-3.79)||404.34US$ (-3.88)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)
- JMB Tieup company
- The Korea Metal Journal
- Steel on the net