The Kanto Tetsugen monthly Japanese scrap export tender dipped on Wednesday
In the tender, Toyota Tsusho Material was awarded 15,000 tonnes of Japanese H2 grade scrap for shipment by 31 January at JPY 42,739/tonne ($280/t) fas, or about $295/t fob Japan.
The award price is JPY 2,441/t lower than last month’s tender held on 12 November. The tender attracted a total of 15 bids amounting to 97,700t.
In dollar terms, the latest Kanto award price is $13/t lower versus last month’s award price of $293/t fas. The cargo for the 11 December tender is expected to be shipped to Bangladesh. In delivered terms, the H2 purchase price is estimated to be around $355/t cfr.
Meanwhile, Tokyo Steel maintained its scrap procurement prices at all its steelworks and centres with the exception of Kyushu steelworks. It lowered its H2 purchase prices at Kyushu by JPY 1,000/t to JPY 40,500/t effective 12 December.
The company maintained its H2 purchase price at Utsunomiya works at JPY 41,500/t.