The Japanese scrap export price in the Kanto tender has increased by JPY 1,503/mt today, May 9, rising for the second consecutive month. Tokyo Steel has followed suit and increased its scrap purchase price too. Having cut its price on April 19, Tokyo Steel’s scrap purchase price at the Utsunomiya plant has been adjusted back to JPY 51,500/mt ($330/mt) delivered.
In the Kanto export tender, the highest bid was at JPY 52,590/mt FAS. As a result, the dollar-based prices have increased by $5/mt from $333/mt to $337/mt over the past month. However, this time, the volume sold in the tender was only 5,000 mt.
SteelOrbis has learned that the buyer is Vietnamese. The FAS price translates to JPY 53,590/mt FOB or $344/mt FOB, $4/mt higher than last month.
As a result, SteelOrbis’ reference price for ex-Japan H2 scrap has moved up from JPY 51,400-53,350/mt ($328-340/mt) FOB to JPY 51,400-53,600/mt ($330-344/mt) FOB
$1 = JPY 155.93
