Japan’s Kanto Tetsugen ferrous scrap monthly auction fetched bid higher by $27/MT. Tender for 20,000 MT scrap, which concluded this week attracted a highest bid of Yen 26,520/MT ($231) FAS for H2 material, Yen 3,160/MT ($27) higher than last month’s highest bid.
In the month of Nov’16, auction fetched bids higher by $35/MT. This is a result of tight supply of scrap from European and US based countries. Participants mention that availability of scrap is an issue as suppliers are booked for December delivery.
Kanto Tetsugen Cooperative Association was established in November 2001 to make the joint export of steel scraps to foreign countries. It consists of 80 companies of metal recycle business in Tokyo, Saitama, Kanagawa, Chiba, Gumma, Tochigi, Ibaraki, Yamanashi. It also exports steel scraps to Korea, China and South East Asian countries.
Leave a Reply