JAPAN STEEL SCRAP: Export prices jump again following rise in Kanto auction

The jump in Kanto Tetsugen auction prices has led to another increase in the Japanese export price for steel scrap over the past week, market sources told Fastmarkets on Wednesday May 12.

Tuesday's auction by Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2 grade scrap export price at an increase of ?5,899 ($54) per tonne month on month, with the highest bid price at ?49,279 ($453) per tonne fas for a volume of 5,000 tonnes.
The two highest bids, both for 5,000 tonnes, were by a Japanese trading company which sources said was backed by a Chinese consortium. It was not known into which markets the cargo would be delivered.

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