The Japan-based Kansai export tender, for 5,200 mt of scrap, has been closed at JPY 27,110/mt FAS or JPY 28,110/mt ($264/mt) FOB, which is JPY 4,000/mt above the last month’s tender, but JPY 106/mt ($1/mt) JPY lower than the Kanto Tetsugen export tender held earlier this month.
Sources have said that the volume has been bought by the trader for a long position and will be sold to the Vietnamese market later, because for now end-users view this level as being too high.
The ex-Japan H2 reference price is still at JPY 27,000-28,200/mt FOB, as SteelOrbis reported earlier, based on deal prices to South Korea and Bangladesh.
