On March 12, SteelOrbis reported that the monthly Kanto Tetsugen scrap auction encountered an average for the top winning bids at approximately JPY 34,000/mt ($306/mt) FAS.
Sources report to SteelOrbis that last week the tender average for the top winning bids decreased to JPY 32,300/mt ($291/mt) FAS, down $15/mt compared to March. In a year-on-year analysis, the Kanto Tetsugen H2 scrap average of the top bids in April 2019 is lower by JPY 679/mt or $16/mt this month compared to the average of the top bids of JPY 32,979/mt ($307/mt) FAS in April 2018.
USD = JPY 107.31 (Apr 10, 2018)
USD = JPY 111.29 (Mar 12)
USD = JPY 110.93 (April 10)