Posted on 12 Apr 2023
Japanese scrap export prices have reversed downwards in the latest Kanto Tetsugen monthly export tender, Kallanish notes. Tuesday's tender results mark the first drop since January.
In the latest tender, which opened on 11 April, Toyota Tsusho Material was awarded 15,000 tonnes of Japanese H2 grade scrap at JPY 50,556/tonne ($380/t) fas. The tendered price is JPY 4,882/t lower than the last tender in March. A total of 14 companies participated in the tender and they placed bids for 71,500t collectively.
In tandem with the Kanto results, leading electric arc furnace operator Tokyo Steel lowered its procurement price for H2 grade scrap trucked to its Utsunomiya steelworks by JPY 1,000/t to JPY 51,000/t, effective 12 April. It was previously paying JPY 52,000/t during 5-11 April.
Meanwhile, containerised HMS 1&2 80:20 from Australia is offered at around $410-415/t cfr Indonesia. The market is "pretty much quiet", a mill manager in Jakarta says. "The [Eid] holiday is soon upon us, starting from 19 April," he adds.
Source:Kallanish
