After a ten-month upward rally, Japan’s Kanto scrap export tender has recorded its first price decline in the June tender, though the decrease is a small one. The total tonnage of the cargo sold, which will be shipped to Bangladesh, is 20,000 mt. In the first three months of 2026, Bangladesh has been the second biggest buyer of Japanese scrap, with Japan exporting 516,219 mt of scrap to the country in that period. Meanwhile, the top buyer of Japanese scrap remains Vietnam.
In the Kanto export tender, the highest bid was at JPY 54,506/mt ($340/mt) FAS, only JPY 96/mt lower than last month. The dollar-based price has moved up by $8/mt from last month’s $348/mt FAS, taking the exchange rate into account. The FAS price translates to JPY 55,506/mt FOB or $346/mt FOB, $7/mt lower as compared to last month. The first price increase which started the uptrend was recorded in August last year and the highest bid was at JPY 41,888/mt or $284/mt FAS at the time.
In the current week, the Tokyo Bay FAS-based price for H2 grade scrap remains at JPY 53,000/mt ($331mt), down by $2/mt considering the fluctuating Japanese yen-US dollar rate. The FOB-based export price remains at JPY 54,000/mt ($337/mt) for the grade in question, down by $2/mt week on week.
The Tokyo Bay HS grade scrap prices are still at JPY 57,500/mt ($358/mt) FAS, while shindachi grade scrap quotations are still at JPY 58,000/mt ($362/mt) FAS, both down by $3/mt.
$1 = JPY 160.42
