Itochu, Other Traders Win Ferrous Scrap Export Contracts

摘要

Kanto Ferrous Scrap Council composed of scrap yard operators in Tokyo and its vicinity invited traders to bid on ferrous scrap exports for May shipments. Three traders including Itochu Corporation were successful bidders for 14,000 tons of scrap. The average contract price was 7,752 yen/ton, up 122 yen from the previous bid. Itochu booked 3,000 tons at 7,950 yen and another 3,000 tons at 7,650 yen for a total of 6,000 tons, Kanematsu Trading got 3,000 tons at 7,760 yen and Sumitomo Corporation won 5,000 tons at 7,690 yen. The prices are 700 to 900 yen higher than delivered-to-mill prices in the Kanto area. Cumulative bid quantity totaled 85,000 tons, up 45 percent from 58,500 tons of April.