Kanto auction still rocking Japan's scrap market

The ripples from last week's tender for Japanese H2 scrap for exports during February-March continue to reverberate, with numerous mini-mills raising their buying prices last Friday and prices that shippers at Tokyo Bay ports are paying collectors jumping.

In the early part of last week, the view among some scrap industry insiders in Japan had been that the horrendous earthquake in Turkiye would likely cause global scrap prices to soften because the world's largest ferrous scrap buyer would be too preoccupied with disaster recovery to actively resume