Market participants were bullish on the Japanese scrap markets amid the surge in Japan's October Kanto Tetsugen auction price, sources told Fastmarkets on Tuesday October 12.
Japan's Kanto Tetsugen auction closes $61 per tonne higher month on monthTaiwan returns from holidayPrices for imported material to China increase amid tight domestic supplyJapan
Japan's October Kanto Tetsugen auction concluded at an average of ?53,213 ($470.93) per tonne on Tuesday on a free alongside ship (fas) basis for a total of 11,000 tonnes of bulk H2 scrap shipping before the end of November.
The first winning bid was at ?53,291 per tonne for 6,000 tonnes, while the second winning bid was at ?53,120 per tonne fas for 5,000 tonnes.
The average price is an increase of ?6,953 per tonne from the average September auction price of ?46,260 per tonne fas....