On January 11, SteelOrbis reported that the latest Kanto Tetsugen scrap auction encountered an average high bid for H2 scrap at around JPY 28,775/mt ($265/mt) FAS.
Sources now inform SteelOrbis that the average for the top winning bids in the recent February auction is approximately JPY 32,000/mt ($288/mt) FAS.
In a year-on-year analysis, the Kanto Tetsugen H2 scrap average of the top bids in February 2019 is lower by JPY 2,750/mt or $33/mt this month compared to the average of the top bids of JPY 34,750/mt ($321/mt) FAS in February 2018.
USD = JPY 108.38 (Feb 9, 2018)
USD = JPY 108.54 (Jan 11)
USD = JPY 110.93 (Feb 13)