Japan’s bellwether monthly Kanto Tetsugen ferrous scrap export tender for Aug’21 was concluded today. A total of 13,000 t of Japanese H2 scrap was awarded at an average price of JPY 46,646/t ($423) FAS, SteelMint learnt from its trade sources. The average bid fell by JPY 1,242 ($11) 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.
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