On November 9, SteelOrbis reported that the Kanto Tetsugen scrap auction encountered an average high bid for H2 scrap during the recent November scrap auction at JPY 33,872/mt ($298/mt) FAS, lower compared to September.
A source reported this week December’s top auction result at around JPY 29,200-29,500/mt ($258-260/mt) FAS. Compared to November, the higher bid results decreased by $38-40/mt.
In a year-on-year analysis, the Tetsugen H2 scrap average of the top bids in December 2018 is lower by JPY 6,625-6,925/mt and $58-60/mt this month compared to the average of the top bids of JPY 36,125/mt ($318/mt) FAS in December 2017.
USD = JPY 113.63 (Dec 12, 2017)
USD = JPY 113.75 (Nov 9)
USD = JPY 113.35 (Dec 11)