Japan: Bids at Kanto scrap tender surge by $61/t, m-o-m, in Oct’21

Japan’s bellwether monthly Kanto Tetsugen ferrous scrap export tender for Oct’21 was concluded today. A total of 11,000 t of Japanese H2 scrap was awarded at an average price of JPY 53,213/t ($470) FAS, SteelMint learnt from sources. The average bid rose by JPY 6,953 ($61), m-o-m. The bids were higher than prevailing market prices. So, Japanese scrap export prices may rise further after the tender.