JAPAN STEEL SCRAP: Prices get boost from Kanto auction, China demand

Export prices for Japan-origin steel scrap rose again over the seven days to Wednesday January 10 following a strong result in the Kanto Tetsugen auction and continued buying from China.

The highest bid in the auction - which is a cooperative of scrap dealers in the Tokyo region - came in at ?39,271 ($375) per tonne fas on Wednesday.
That price was down by ?5,480 per tonne month on month from January's auction. Despite that, the auction results boosted export prices because the cargo was sold at a price higher than dockside scrap prices earlier this week.

Following the result, sources said that a rise in collection costs meant that suppliers would only accept H2-grade material at ?40,000-41,000 per tonne fob, whereas offers earlier in...

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