On May 10, SteelOrbis reported that the monthly Kanto Tetsugen scrap auction encountered an average for the top winning bids at JPY 30,597/mt ($278/mt) FAS for H2 grade scrap.
Sources inform SteelOrbis that the average tender price of the top bids in June slipped down to JPY 28,967/mt ($267/mt) FAS for H2, down $11/mt compared to May. In a year-on-year analysis, the Kanto Tetsugen H2 scrap average of the top bids in June 2019 is approximately lower by JPY 5,058-5,103/mt or $41-42/mt this month compared to the average of the top bids of JPY 34,025-34,070/mt ($308-309/mt) FAS in June 2018.
USD = JPY 110.43 (Jun 13, 2018)
USD = JPY 109.95 (May 10)
USD = JPY 108.51 (Jun 11)