The Kanto Tetsugen ferrous scrap export tender for April awarded a 15,000 t H2 lot at JPY 43,288/t ($297/t) FAS, down JPY 938/t and $7/t from March. The modest strengthening of the JPY (145.3 vs 147.6) m-o-m against USD, coupled with weak demand and falling billet prices in East Asia, weighed on export sentiment. A Vietnam-based buyer reportedly secured the winning bid.
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