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Tokyo:-The highest bid at Thursday's monthly auction for Japanese H2 grade ferrous scrap for export from Tokyo Bay by the end of September was up Yen 530/mt ($4.80/mt) from last month's winning bid, the organizer of the auction said. The winning bid in the auction held by Kanto Tetsugen, a group of scrap distributors around Tokyo, was Yen 34,860/mt FAS for 15,000 mt. The auction attracted 19 bids, totaling 128,200 mt of scrap, and the average bid price was Yen 34,260/mt FAS. A Tokyo-based scrap trader said that the winning bid was equivalent to around Yen 35,700/mt FOB, around the same level that traders were targeting. "The average of all bids was very close to the current price suppliers are paying to collect H2 material for export. So the price trend for the future remains unclear," he said. Japanese traders are eyeing a minimum of Yen 35,500/mt FOB for H2 exports, and paying around Yen 34,500/mt FAS to collect H2 material to be exported from eastern Japan, up from Yen 34000-34,500/mt FAS a week ago. S&P Global Platts assessed the Japanese H2 ferrous scrap export price at Yen 34,500-35,000/mt FOB Tokyo Bay Wednesday, unchanged from last week. Thursday's monthly auction for Japanese H2 grade ferrous scrap, for export from Tokyo Bay by the end of September, was up Yen 530/mt ($4.8/mt) from last month's winning bid, the organizer of the auction said. The winning bid in the auction held by Kanto Tetsugen, a group of scrap distributors around Tokyo, was Yen 34,860/mt ($315/mt) free alongside ship for 15,000 mt. The auction attracted 19 bids, totaling 128,200 mt of scrap, and the average bid price was Yen 34,260/mt FAS. A Tokyo-based scrap trader said that the winning bid is equivalent to around Yen 35,700/mt FOB, mostly same level with traders are currently targeting. "Also the average in all bids was very close to the current price suppliers are paying to collect H2 material for export, so most may still be unclear about the price trend," he said. Japanese traders are currently targeting minimum Yen 35,500/mt FOB for H2 export, and paying around Yen 34,500/mt FAS to collect H2 material to be exported from eastern Japan, up from Yen 34000-34,500/mt FAS a week ago. S&P Global Platts assessed the Japanese H2 ferrous scrap export price at Yen 34,500-35,000/mt FOB Tokyo Bay Wednesday, unchanged from last week's assessment. Source :https://www.spglobal.com
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