Japanese scrap quotes lose ground in kanto tetsugen tender

摘要

Japan’s Tokyo-based Kanto Tetsugen Cooperative Association of ferrous scrap dealers closed a tender for HMS 2 with a drastic decrease month-on-month, which, however, was in line with expectations because of bearish sentiments globally.On September 11, the average price for 22,100 t of HMS 2 scrap lost JPY 2,865/t ($26.6/t) at JPY 24,849/t ($230.5/t) FAS, Metal Expert learnt. The exchange rate is $1 = JPY 107.83. Hence, the quotes dropped to the lowest level since May 2017. The material will be exported from the Kanto region in September contracts, with the fnal shipment date on October 31.