The Kanto Tetsugen monthly Japanese scrap export concluded with a notable decrease in prices on Wednesday, as reported by Kallanish. JFE Shoji secured 15,000 tonnes of Japanese H2 grade scrap for shipment by October 31 at JPY 42,720 per tonne ($302/t) fas, marking a decline of JPY 4,212/t from the previous tender held on August 9.
In dollar terms, the latest award price is $24/t lower than last month's tender price of $326/t fas, approximately $332/t fob. The cargo from the September 11 tender is destined for Bangladesh, consistent with last month's shipment.
Additionally, Tokyo Steel has recently cut its domestic scrap procurement prices by JPY 1,000-1,500/t across its operations. The purchase price for H2 scrap delivered to its Utsunomiya steelworks has dropped by JPY 1,500/t to JPY 41,500/t, effective September 12, following a brief period where the previous price of JPY 43,000/t was in effect for just two days.
