Currency factors lower Japan's scrap export price for May

The climb in the yen's value against the US dollar saw the winning bid in Wednesday's tender for Japanese H2 scrap for export fall for the first time in two months, according to tender organizer, the Kanto Tetsugen grouping of scrap dealers around Tokyo.

The winning price accepted by the dealers for the scrap to ship from Tokyo Bay before May 31 was Yen 43,288/tonne FAS ($294.5/t), lower by Yen 938 from the previous month and largely negating the Yen 1,026/t rise in last month's top bid for current month shipments, as Mysteel