The Kanto Iron and Steel Cooperative’s scrap export tender saw bids drop $10/t m-o-m (JPY 1,610/t) in Feb’25. The 15,000-t H2 lot was awarded to a Bangladeshi mill at JPY 43,200/t ($281/t) FAS. The drop in bids was due to limited activity, as buyers gradually returned from holidays. Seaborne demand remained thin, as buyers awaited price signals from China’s post-holiday market trends.
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