ASIA STEEL SCRAP DIGEST: Japanese sellers cautious ahead of Kanto Tetsugen auction

August 19, 2021 / www.metalbulletin.com / Article Link

Japanese steel scrap sellers have continued to pull back from export markets following the Obon holidays amid expectations of a price drop at this week's Kanto Tetsugen auction, sources told Fastmarkets on Wednesday August 18.

Japanese scrap sellers "wait and see" ahead of auctionLower offers for scrap to China heard from South KoreaTaiwan secures containerized scrap at $440 per tonneIndian import market remains weak
Japan
Little trading activity from Japan took place on Wednesday. Market participants said they were adopting a cautious approach ahead of Thursday's Kanto Tetsugen - a cooperative scrap auction involving dealers in Tokyo and the surrounding region.
"The Japanese market is the same as before the Obon holidays [which took place] August 13 to 16, and collection prices have remained unchanged," a Japanese supplier source said. "We will see more transactions next week for September to October shipments."

A trading source predicted that the Kanto tender price would close...

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