Japan’s monthly Kanto Tetsugen ferrous scrap export tender for Mar’21 was concluded today. A total of around 15,400 t of Japanese H2 scrap was awarded at an average price of JPY 42,976/t ($395) FAS, rising by JPY 3,705/t ($34) m-o-m, SteelMint learned from its trade channels. Bids in today’s monthly tender have risen amid global price hikes seen in the past one month on supply tightness, restocking demand & high freight rates. However, considering bids fetched in today’s tender, the scope of further price hike seems limited.
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