ASIA STEEL SCRAP DIGEST: Japan sentiment weakens after drop in Kanto tender

A month-on-month drop in the Kanto Tetsugen auction and a price cut by major mill Tokyo Steel on Thursday August 19 has increased pessimism in the Japan steel scrap market, sources said.

Japan's Kanto tender closed at a fall of $11 per tonne month on monthBearish sentiment in Chinese steel markets weighed on scrap import pricesTaiwan imported containerized scrap price stableJapan
Japan's Kanto Tetsugen, which is a cooperative scrap auction involving dealers in Tokyo and the surrounding region, concluded at an average price of  ?46,646 ($427) per tonne fas on Thursday for H2-grade steel scrap. That was down  ?1,242 per tonne month on month from July's average price of  ?47,888 per tonne fas.

The highest bid was for 3,000 tonnes of H2 at  ?47,183 per tonne fas to be shipped to Taiwan, Fastmarkets heard, down by  ?705 per tonne compared...

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