Prices for steel scrap imported into China were unchanged for a fourth consecutive day on Wednesday June 9 despite the June Kanto Tetsugen auction result inching up by ?362 ($3) per tonne from last month.
The Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2-grade scrap export auction on Wednesday with the winning bid price at ?49,195 per tonne fas for a volume of 7,500 tonnes. The average bid price for May was at ?48,833 per tonne fas, as reported by the Kanto Tetsugen Cooperative Association.Sources said the highest bidder was awarded with the cargo and it would likely be sold to a mill in Vietnam. The highest bid far outstripped other buying interest levels at the...