Successful bid price at an export tender held by Kansai Tetsugen on Friday, which is a scrap dealers’ association around Osaka, was FAS 30,130 yen per tonne for H2 grade. This was the first export tender held by Kansai Tetsugen this year. The price level was almost as high as the successful bid price at Kanto Tetsugen’s export tender for October shipment held on September 9. Another scrap dealers’ group in Osaka held an export tender on August 30 but bid prices didn’t reach the suggested level.Arae Shokai won the 5,000-tonne contact shipped during the period from September 27 to October 30. Eleven exporters submitted 11 bids for the tender while 8 eligible exporters rejected to submit. The averaged bid price was 28,972 yen per tonne. Three bids exceeded FAS 30,000 yen per tonne. Electric furnace steel makers around Osaka presently purchase H2 at around 31,000-32,000 yen. The price is higher than the newly contracted export price. A scrap dealer source said market inventory keeps low and then scrap supply is expected to tighten after Japanese long holidays for September 18-23.
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