Japan: Bids at Kanto scrap tender for Sept’21 falls by $4, m-o-m

Japan’s bellwether monthly Kanto Tetsugen ferrous scrap export tender for Sept’21 was concluded today. A total of 20,000 t of Japanese H2 scrap was awarded at an average price of JPY 46,260/t ($420) FAS, SteelMint learnt from sources. The average bid fell by JPY 386 ($4), m-o-m. However, the bids were higher than prevailing market prices, which shows that chances of a price correction are slim in the Japanese scrap export market in the short term.