Japan: Bids drop by $12 m-o-m at Kanto scrap export tender for July

Japan’s monthly Kanto Tetsugen ferrous scrap export tender for Jul’21 was concluded today. A total of around 14,000 t of Japanese H2 scrap was awarded at an average price of JPY 47,888/t ($436), FAS, SteelMint learnt from its trade sources. The highest bid is lower by JPY 1,307 ($12) against the June tender. After today’s tender result, Japanese H2 scrap export prices may see some adjustments from the prevailing price levels, however, high-grade prices are less likely to fall on demand-supply mismatch.