Kanto Steel Scrap Export Bid Price for August Contracts at 49,799 yen

 Kanto Tetsugen Cooperative Association, consisting of steel scrap processors in the Kanto region, conducted an export tender for August contracts (September shipments) on August 9, and the winning bid price was 49,799 yen per ton (H2, FAS).

It was 59 yen higher than the previous survey conducted in July, the third consecutive month of increase.

Prices remained at the same level as in the previous report due to strong steel scrap demand in Bangladesh and the strong dollar/weak yen exchange rate.

The winning bid price is about the same as the current Kanto market price, and is unlikely to affect the domestic market in the near term.