On October 11, SteelOrbis reported that the October Kanto Tetsugen scrap auction resulted in withdrawn export offers on low buyer bids, therefore, no monthly price was established.
Sources inform SteelOrbis that the average high bids for H2 scrap during the recent November scrap auction are at JPY 33,872/mt ($298/mt) FAS, $11/mt lower than the high bid H2 average price of JPY 34,486/mt ($309/mt) FAS in September.
In a year-on-year analysis, the Tetsugen H2 scrap average of the top bids in November is higher by JPY 1,985/mt this month compared to the average of the top bids of JPY 31,890/mt ($281/mt) FAS in November 2017. Year-on-year H2 scrap average winning bids increased by $28/mt.
USD = JPY 113.53 (Nov 9, 2017)
USD = JPY 111.58 (Sep 11)
USD = JPY 113.75 (Nov 9)