Prices for ex-Japan scrap in yesterday’s Kanto tender increased by almost JPY 1,000/mt.
In the Kanto export tender, the highest bid was at JPY 51,087/mt FAS, moving by JPY 987/mt compared to the previous month. Though this rise at the current exchange rate would be $6.44/mt, taking into account currency fluctuations, the dollar-based prices have decreased by $8/mt from $341/mt to $333/mt over the past month. Moreover, this time, the volume sold under the tender was again 15,000 mt.
SteelOrbis has learned that the buyer is Bangladeshi. The FAS price translates to JPY 52,087/mt FOB or $340/mt FOB, $8/mt lower than last month.
As a result, SteelOrbis’ reference price for ex-Japan H2 scrap has remained stable at JPY 49,500-51,500/mt ($327-340/mt) FOB for now.
$1 = JPY 153.27