Scrap prices have decreased again in Japan’s Kansai Tetsugen export tender, which was closed on October 1. However, the decline has been much slower than over the previous two months.
The lowest bid in the tender for 5,000 mt of H2 scrap was at JPY 23,030/mt ($213/mt) FAS, which is just JPY 240/mt ($2.2/mt) lower than the tender price a month ago. Over the previous two months, the scrap price at the Kansai Tetsugen auction has lost JPY 5,530/mt ($51/mt).
Ex-Japan scrap prices were at the level of JPY 24,000/mt ($222/mt) FOB last week and have not changed yet, signalling the stabilization of the market following its long-standing decline.
$1 = JPY 108
