Posted on 11 May 2023
Japanese scrap export prices have sharply fallen for the second consecutive month in the latest Kanto Tetsugen export tender, Kallanish notes.
In the latest tender, which opened on 10 May, Toyota Tsusho Material was awarded 15,000 tonnes of Japanese H2 grade scrap at JPY 46,226/tonne ($342/t) fas. Another 5,500t was awarded to Houei Trading at JPY 46,030/t. The average tendered price of JPY 46,173/t fas is JPY 4,383/t lower than last month’s tender held on 11 April. A total of 13 companies participated in Wednesday’s tender and they placed bids for a combined 66,700t.
In tandem with the Kanto results, leading electric arc furnace operator Tokyo Steel lowered its procurement price for H2 grade scrap by JPY 2,000-2,500/t at its various steelworks and steel centre. The company has cut purchase prices by JPY 2,000/t to JPY 47,000/t for H2 scrap trucked to its Utsunomiya steelworks, effective 11 May. It was previously paying JPY 49,000/t during 26 April-10 May.
Source:Kallanish
