Japan: Highest bid at Kanto scrap export tender largely stable m-o-m

Japan’s monthly Kanto Tetsugen ferrous scrap export tender for Jun’21 concluded today. A total of around 7,500 t of Japanese H2 scrap was awarded at an average price of JPY 49,195/t ($450), FAS, SteelMint learnt from its trade sources. The highest bid is marginally lower by JPY 84 ($1) against May tender. After today’s tender result, Japanese scrap export offers may rise, as bids put up by Hyundai Steel and other mills last week were comparatively on the lower side.