In July, SteelOrbis reported that the monthly Kanto Tetsugen scrap auction encountered an average for the top winning bids at JPY 28,060/mt ($259/mt) FAS for H2 grade scrap.
Sources inform SteelOrbis that the average tender price of the top bids for H2 scrap decreased in August to JPY 27,714/mt ($263/mt) FAS but increased in dollar terms. In the latest September Kanto auction, the average tender price decreased to JPY 24,849/mt ($231/mt) FAS. The price is down $32/mt compared to August.
In a year-on-year analysis, the Kanto Tetsugen H2 scrap average of the top bids in September 2019 is approximately lower by JPY 9,637/mt or $78/mt compared to the average of the top bids of JPY 34,486/mt ($309/mt) FAS in September 2018.
$1 = JPY 111.57 (Sep 10, 2018)
$1 = JPY 108.46 (Jul 10)
$1 = JPY 105.35 (Aug 12)
$1 = JPY 107.79 (Sep 10)