Kansai Tetsugen’s Ferrous Scrap Export Tender Reflects Asian Market

Japanese ferrous scrap export price hit FAS 31,380 yen per tonne for H2 grade at joint tender held by Kansai Tetsugen on Tuesday. The price was 2,140 yen lower than the price at the previous tender held on March 15 but the price is in line with result at tender held by Kanto Tetsugen on Thursday.

Shizuoka based scrap dealer, Econecol Inc. won the tender for 5,000 tonnes shipment. The firm ships the volume during May 21 to June 20. Thirteen exporters submitted 13 bids for the tender. Twelve tenders including the successful bid priced more than 30,000 yen per tonne.

Local electric furnace steel makers around Osaka pay 31,000-32,000 yen per tonne for H2 grade scrap. The makers keep the price unchanged after long holidays in early May and scrap supply stays at normal level. The dealers keep the inventory at low level with expectation for potential price decrease to reflect offshore price.