Posted on 13 May 2021
Kanto Tetsugen's recent monthly export auction settled higher for Japanese H2 grade scrap from Tokyo Bay, Kallanish notes. The higher winning bids are in line with the strong international scrap market.
The Kanto Tetsugen Cooperative Association auction on 11 May awarded Okaya & Co two 5,000-tonne parcels at JPY 49,279/tonne ($453/t) fas and JPY 49,229/t respectively for H2 grade scrap. It also awarded a 5,150t lot to JFE Shoji Trade at JPY 48,015/t. The tender’s average winning bid price of JPY 48,833/t is JPY 5,453 higher than last month’s tender. The association announced that 15 companies submitted bids for a total of 150,350t.
In the Japanese domestic market, scrap prices started rising this week after holding steady for nearly three weeks. Tokyo Steel is paying JPY 46,000/t for H2 grade scrap trucked to its Utsunomiya steelworks from 12 May. This is only the day after the mill raised its purchase price to JPY 44,000/t. Prior to the two hikes, the mill’s H2 procurement price was JPY 42,000/t during 21 April-10 May.
Source:Kallanish
