Japan’s Kanto Tetsugen ferrous scrap tender for July concluded with 15,000 t of H2 scrap awarded at JPY 41,716/t ($284/t) FAS, down JPY 551/t ($4/t) from June.
The dollar-denominated price also slipped by $8/t from $292/t in June. A weaker JPY (147.1/$ on 9 July vs. 145.08/$ on 11 June) softened the fall in yen terms.
Market insiders noted that buying interest from key overseas markets remained weak, keeping bids under pressure.
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