- Japan’s Kanto Tetsugen ferrous scrap tender for June concluded with a 20,000 t H2 lot awarded at JPY 42,267/t ($292/t) FAS, reflecting a drop of JPY 122/t from May.
- Despite the drop in JPY terms, the dollar price edged up by $1/t, mildly supported by a 0.5% m-o-m appreciation in the yen (144.9 vs 145.7).
- A leading Chattogram-based Bangladeshi mill reportedly secured the lot, translating to an estimated FOB Japan price of $300-305/t.
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