Prices for ex-Japan scrap in the Kanto tender have decreased by JPY 1,226/mt today, June 13. Market sources report that the ongoing maintenance works at Tokyo Steel are exerting some pressure on Japanese scrap prices.
In the Kanto export tender, the highest bid was at JPY 51,364/mt FAS. As a result, the dollar-based price has decreased by $10/mt from $337/mt to $327/mt over the past month, including the changes in the Japanese yen-US dollar exchange rate. This time, the volume sold under the tender was approximately 25,000 mt. The FAS price translates to JPY 52,364/mt FOB or $333/mt FOB, $10/mt lower than last month.
It is known that market prices in the Kanto region are currently at JPY 51,000/mt ($325/mt) FAS on average.
Meanwhile, Tokyo Bay FAS-based prices for H2 grade scrap have declined on the upper end by JPY 500/mt ($2/mt) as compared to the levels recorded on May 31, to JPY 50,000-51,000/mt ($318-325/mt). The current level shows that FOB prices are at JPY 51,000-52,000/mt ($324-331/mt) for this grade.
Meanwhile, ex-Japan HS scrap prices are currently standing at JPY 54,000-56,000/mt ($344-357/mt) FAS and shindachi scrap quotations are at JPY 53,000-54,500/mt ($338-347/mt) FAS. Both prices have increased on the upper end as compared to late May.
$1 = JPY 157.02
