On June 13, SteelOrbis reported the higher successful bids in the Kanto Tetsugen scrap tender as trending slightly down from the May auction. In June, the successful bids were at approximately JPY 34,025-34,070/mt ($308-309/mt) FAS.
Sources inform SteelOrbis that the July high bids traded at JPY 34,330/mt ($307/mt) FAS. While the price increased in domestic currency, the price decreased $1-2/mt in dollar terms due to currency fluctuations.
The Tetsugen high bid reached JPY 28,035/mt ($246/mt) FAS in July 2017; prices are up $61/mt year-on-year for July.
Sources inform SteelOrbis that the July scrap auction continues reinforcing stable pricing at the domestic level. Export bids are reportedly still trending stable at the moment.
USD = JPY 113.74 (July 11, 2017)
USD = JPY 110.43 (June 13)
USD = JPY 111.97 (July 11)