On June 11, SteelOrbis reported that the monthly Kanto Tetsugen scrap auction encountered an average for the top winning bids at JPY 28,967/mt ($267/mt) FAS for H2 grade scrap.
Sources inform SteelOrbis that the average tender price of the top bids in July decreased to JPY 28,060/mt ($259/mt) FAS for H2, down $8/mt compared to June. In a year-on-year analysis, the Kanto Tetsugen H2 scrap average of the top bids in July 2019 is approximately lower by JPY 6,270/mt or $48/mt this month compared to the average of the top bids of JPY 34,330/mt ($307/mt) FAS in July 2018.
USD = JPY 111.97 (Jul 11, 2018)
USD = JPY 108.51 (Jun 11)
USD = JPY 108.46 (Jul 10)