Japan Ferrous Scrap Export Hits FAS 34,500 yen/t, Tender in Osaka

Japanese ferrous scrap export price hit FAS 34,450 yen per tonne for H2 grade scrap at joint tender held by Osaka’s dealers group on Friday. The group held the tender for the first time since October 2010. The successful bid was around 800 yen lower than Kanto Tetsugen’s successful bid on July 12.

The winner will ship 3,000 tonnes of scrap by August 31. Eight exporters submitted bids for the tender.

Electric furnace steel makers around Osaka pay 36,500-37,500 yen per tonne for H2 scrap. The price could decrease when local makers plan maintenance outage in late July and the export price is more than 2,000 yen lower than local makers’ purchase price.

Tokyo Steel Manufacturing reduces scrap purchase price by 500 yen per tonne at all plants on Saturday. The price decreases to 37,500 yen per at Okayama plant, 38,000 yen at Kyushu plant, 35,500 yen at Takamatsu plant and at Utsunomiya plant for H2 grade scrap. Tahara plant pays 37,500 yen for ocean transport and 38,500 yen for land transport.