Japan's H2 scrap export tender price climbs, finally

Source: Mysteel Jan 12, 2022 15:00

The winning bid in Japan's monthly scrap export tender for January held on Wednesday was Yen 51,010/t ($442.2/t) for the H2 grade material the dealers are offering, finally climbing past their Yen 50,000/t FAS target, Mysteel Global notes. Also significant in Wednesday's auction was the fact that tender organizer the Kanto Tetsugen, the alliance of scrap dealers around Tokyo, finally accepted the bids after the previous two auctions were abandoned because the dealers thought bids were too low.

The winning bid on Wednesday was for 5,000 tonnes and the runner-up, where the bid was Yen 50,957/t FAS, was for 5,100 tonnes, according to a Kanto Tetsugen official, who added that both parcels need to be shipped by the end of February. Wednesday's tender attracted 22 bids for 124,800

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