Japan: Kanto H2 scrap export tender sees hike of $13/t m-o-m in Jan’25

The Kanto Iron and Steel Cooperative’s Jan’25 scrap export tender saw bids rise $13/t m-o-m (JPY 2,071/t). The 15,000-t H2 lot was awarded to a Bangladeshi mill at JPY 44,810/t ($283/t) FAS. Despite limited buying interest for Japanese H2, the tender attracted higher bids. Bangladeshi buyers’ active participation, driven by domestic scrap shortages, improved LC conditions, and rising steel demand, fuelled the hike.