Japanese FOB scrap price pushes higher on bullish tender results

摘要

Singapore—Japanese seaborne scrap prices rose Sept. 9, ending a three-week plateau following a bullish Kanto Tetsugen tender result, sources said. S&P Global Platts assessed the Japanese H2 FOB Tokyo Bay spot price at Yen 29,000/mt ($274/mt) Sept. 9, up Yen 1,000/mt week on week. The tender saw two 10,000 mt cargoes of H2 sold on an FAS Kanto ports basis at Yen 29,370/mt Sept. 9, which after normalizing to an FOB basis equated to Yen 30,370/mt.