Japan’s Kanto Tetsugen tender closed with $17/mt rise, sentiment strong

Tuesday, 12 May 2020 16:24:09 (GMT+3)   |   Istanbul
       

On Tuesday, May 12, the monthly Kanto Tetsugen scrap export tender in Japan was closed with a sharp price increase, even exceeding the expectations of market participants. The ex-Japan export scrap increase has already started to be reflected in offers and deals to the major Asian buying-countries.

The average price at the recent Kanto Tetsugen tender was JPY 22,480/mt ($209/mt) FAS, JPY 1,824/mt ($17/mt) above last month’s auction, almost offsetting the decline seen then. The total volume sold in three lots was 23,000 mt. The price difference in three sales of 15,000 mt, 5,000 mt and 3,000 mt has been very small this time - $3/mt maximum.

The average FAS price corresponds to JPY 23,480/mt or $218/mt FOB. As SteelOrbis reported late last week, export deals for H2 scrap have been mostly signed at JPY 21,000-21,500/mt ($195-200/mt) FOB. According to recently disclosed information, one contract has been signed at JPY 21,500/mt ($200/mt) FOB to South Korea last week. After the tender today one of South Korean mills has announced a bid at JPY 23,000/mt ($214/mt) FOB. Most market participants believe that the export price for H2 from Japan is not below this level at the moment.

$1 = JPY 107.4


Similar articles

Mexican domestic scrap prices

28 Mar | Scrap & Raw Materials

Carbon and stainless scrap prices in Taiwanese domestic market - week 13, 2024

28 Mar | Scrap & Raw Materials

Turkey’s deep sea scrap prices stabilize at $385-390/mt CFR

28 Mar | Scrap & Raw Materials

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

US scrap market still expecting sideways pricing in April

27 Mar | Scrap & Raw Materials

Ex-US deep sea scrap prices to Turkey increase, ex-EU prices relatively stable

27 Mar | Scrap & Raw Materials

Downtrend reverses in Pakistan’s import scrap segment

27 Mar | Scrap & Raw Materials

Average local Chinese scrap prices rise amid tight supply after previous decreases

27 Mar | Scrap & Raw Materials

Import scrap prices in India move up, but low bids prevent deals

27 Mar | Scrap & Raw Materials

Baltic countries and Czech Republic seek EU ban on ex-Russia scrap imports

27 Mar | Steel News