Stable Japan Ferrous Scrap Export Price at Kanto Tetsugen Tender

Japanese ferrous scrap export price hit FAS 31,519 yen per tonne for H2 grade at monthly tender held by Kanto Tetsugen on Thursday. The price was 1,131 yen lower than the price at the previous tender held on April 11 but one dealer source sees the price is reasonable for local market price. The source sees the tender results could support weak domestic market price.

An exporter won the tender at 31,550 yen per tonne for 3,000 tonnes shipment. Other four exporters won the tender at 31,550 yen for 5,000 tonnes, 31,530 yen for 3,000 tonnes, 31,510 yen for 5,000 tonnes and 31,470 yen for 5,000 tonnes. They ship the volume by July 15. The total volume is 3,000 tonnes higher than the previous tender.

Fourteen exporters out of 20 eligible companies submitted 20 bids for the tender. Twelve tender priced more than 31,000 yen per tonne. The total volume was 89,000 tonnes.

Recent ferrous scrap export price is around FOB 32,500 yen per tonne for South Korean steel makers. Local steel makers around Tokyo pay 31,000-32,000 yen for H2 grade scrap. The tender price was in line with the recent transaction price.