Japanese scrap prices have decreased in the Kansai Tetsugen export tender, which was closed on January 16, compared to the prices in the Kanto Tetsugen auction held a week earlier.
The Kansai Tetsugen tender for 5,000 mt of H2 scrap was closed at JPY 25,650/mt ($233/mt) FAS for shipment by February 20, down JPY 1,017/mt ($9/mt) compared to the Kanto Tetsugen average deal price on January 10. The price in the latest tender corresponds to JPY 26,650/mt ($242/mt) FOB.
Though prices decreased in the Kansai Tetsugen tender, market sources said that South Korean customers may achieve additional discounts. Current offers for H2 have been heard at JPY 26,000-26,500/mt ($236-240/mt) FOB, while some deals for small tonnages were already done at JPY 25,500/mt ($231/mt) FOB last week.
$1 = JPY 110.182
