Winning bid in Japan's scrap export tender dips $3/t

The top bid in Tuesday's tender in Tokyo for Japanese H2 grade scrap for export next month through Tokyo Bay was Yen 500/tonne ($3.3/t) lower than the winning bid in last month's auction but higher than prevailing prices being paid by mini-mills in the Kanto Plain region, scrap industry sources note.

In the auction, called by the Kanto Tetsugen grouping of scrap dealers around Tokyo, the tender was awarded to a bid of Yen 45,180/t FAS for the H2 grade scrap the dealers were making available and compares with last month's top bid of Yen 45,680/t FAS. Although the tender