Japan: Kanto scrap export tender for Sep’24 sees drop in bid prices by $23/t

Kanto Iron and Steel Cooperative Association’s Sep’24 scrap export tender saw a notable decline in its winning bid prices.

• Bid prices dropped $23/t (JPY 5,236/t) to $303/t (JPY 42,720/t) FAS, down from $326/t (JPY 47,956/t) in Aug’24.
• This marks the lowest bid level in nearly two years, close to the JPY 42,061/t seen in Aug’22.