Prices for steel scrap imported into China increased further on Tuesday May 11 after the highest bid price at the bellwether Japan Kanto Tetsugen increased by ?5,899 yen ($54.21) per tonne month on month.
The Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2 grade scrap export auction on Tuesday with the highest bid price at ?49,279 ($453) per tonne fas for a volume of 5,000 tonnes. The highest bid price for April was heard at ?43,380 per tonne fas, as reported by the Kanto Tetsugen Cooperative Association.Bids for imported HRS101-grade scrap on May 11 were...