The highest winning bid in the recent Kanto Tetsugen auction was JPY 32,000/mt ($282/mt) FAS, $8/mt higher than the JPY 30,700/mt ($274/mt) FAS that the highest bid garnered in the October auction. The tonnage total of 125,000 mt was sold at an average price of JPY 30,980/mt ($273/mt) FAS.
The higher prices achieved during the auction were supported by both higher domestic and export prices.
Sources inform SteelOrbis that the domestic H2 scrap purchasing price in Tokyo, Osaka and Nagoya is approximately JPY 31,500-32,000 ($277-282/mt) delivered to customer. The domestic H2 prices solidly firmed up from the JPY 30,000-31,300/mt ($264-275/mt) delivered prices SteelOrbis reported on October 23. In JPY terms, prices increased JPY 1,500/mt from the bottom of the previously reported range and JPY 700/mt from the top of the same range. In dollar terms, prices increased $13/mt from the bottom of the previously reported range and $7/mt from the top of the same range.
A source noted that a leading mill is reportedly negotiating H2 in the Japanese domestic market at JPY 32,000-34,000/mt ($282-299/mt) delivered, prices that have been trending up for the past two weeks. Of note is the higher prices are for more distant domestic scrap.
Export market prices are reportedly at JPY 31,000/mt ($273/mt) FOB with offers at JPY 32,000/mt ($282/mt) FOB. Scrap offers to Taiwan, for example, are reportedly above $305/mt CFR. Offers are higher than the $295-300/mt CFR, which generally translated to JPY 30,700-31,300/mt ($270-275/mt) FOB that was reported on October 23. US containerized HMS I/II 80:20 prices are reportedly firming up to $305/mt CFR Taiwan.
$1= JPY 112.12, (Oct 10)
$1= JPY 113.74, (Oct 23)
$1= JPY 113.53, (Nov 9)