Kanto Tetsugen-Japan’s monthly ferrous scrap export tender for Feb’21 was concluded today. A total of around 15,000 t of Japanese H2 scrap was awarded at an average price of JPY 39,271/t ($375) FAS, falling by JPY 5,480/t ($52) m-o-m, SteelMint learned from its trade channels. Bid price has come down tracking a decline in global prices since mid-Jan’21. However, bids fetched today are higher than expected, signalling a rebound in prices in near term.
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