Japan scrap export prices plunge in Kanto auction

Source: Mysteel Aug 07, 2026 16:15

The top bid in Friday's auction for H2 grade scrap for export through Tokyo Bay next month had been expected to be lower than last month's, as Mysteel Global reported, but few industry pundits would have anticipated the Yen 3,422/tonne ($21.6/t) rout that occurred. Domestic scrap price setter Tokyo Steel Manufacturing immediately responded by slashing its buying prices for all grades at all works and yards by Yen 500-1,000/t for August 8 deliveries.

The winning bid in the tender held by the Kanto Tetsugen grouping of scrap dealers around Tokyo was Yen 49,086/t FAS, with the reduction being far larger than the Yen 1,998/t drop in the July tender for August shipments and marking it the third straight on-month decline. The auction attracted 12

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