- Japan’s January Kanto scrap tender logged its sixth consecutive increase, reaching a level last seen in May’23, with bids up JPY 1,083/t ($7/t) m-o-m.
- A 20,000-t H2 cargo was awarded to a Chattogram-based mill at JPY 46,771/t ($298/t) FAS, translating to around $305/t FOB and $345-350/t CFR.
- In dollar terms, the gain was limited to just $6/t, as the weaker JPY (from 156.7/$ on 10 Dec to 157.2/$ on 9 Jan) lifted export offer levels.
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