Fe Scrap Export Price Surges to 24,820 Yen/t at Kansai Tetsugen’s Tender

Ferrous scrap export price from Osaka Bay was set at 24,820 yen per tonne for H2 grade at a joint export tender held by Kansai Tetsugen, a scrap dealers’ group around Osaka, on Friday. The export price became higher by 240 yen from Kansai Tetsugen’s previous tender on October 2nd and by 556 yen compared with another joint export tender held by Kanto Tetsugen on November 11th. The winning bidder will ship 5,000 tonnes of H2 during the term from November 20th to December 11th.

Thirteen exporters submitted bids at 23,800 yen of averaged bid price. 7 bidders offered above 24,000 yen. At Kansai Tetsugen’s previous tender, 5 exporters submitted 5 bids and 12 exporters rejected bids.

Domestic scrap market price turned upward thanks to export recovery for East Asia. On the other hand, domestic electric furnace steel makers continue wide output reductions and their demand for ferrous scrap maintains stagnant. A trader source recently showed a concern the market price may drop soon. Meanwhile, a scrap dealer commented about Kansai Tetsugen’s tender result that high export price could support domestic market price.