Japan Ferrous Scrap Export Price Continues to Lower for August
Ferrous scrap export successful bid was average FAS 27,058 yen per tonne for H2 grade at a monthly tender for August shipment held by Kanto Tetsugen on Tuesday, which was 1,012 yen lower than the previous tender. The price decreased for 3 consecutive months and became 1,500-2,000 yen lower than local electric furnace steel makers' scrap purchase price. A scrap dealer source said local market price may be impacted by export price down. The total bid volume was 13,000 tonnes, lower by 2,000 tonnes than the previous tender.
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