FLASH: Kanto Tetsugen scrap export price rises $4.7

The winning bid in Wednesday morning's auction for Japanese H2 grade ferrous scrap for export through Tokyo Bay in January rose by Yen 728/tonne ($4.66/t) from last month's top bid to reach Yen 45,688/t FAS, according to tender organizer the Kanto Tetsugen grouping of scrap dealers around Tokyo. The rise follows the Yen 644/t increase in last month's top price for current month shipments, Mysteel Global notes.

The auction attracted 14 bids from trading companies seeking a total of 105,900 tonnes. The Kanto Tetsugen said the 15,000 tonnes of scrap awarded is destined for Vietnam. The grouping never identifies the trader submitting the winning bid, but sources say it was Itochu Metals. The winning price is slightly