Kanto Tetsugen’s monthly export tender for Japanese scrap recorded a price decrease this month, Kallanish reports. Itochu Metals Corp was awarded 15,000 tons of Japanese H2 grade scrap, set for shipment by 31 December, at a rate of JPY 45,180 per ton ($293/ton fas), which is approximately $305 per ton fob Japan.

This latest tender price is JPY 500 per ton lower than the October 9 tender, marking a reduction of $14 per ton compared to last month’s $307 per ton fas price. The awarded cargo is expected to be shipped to Vietnam, with an estimated H2 scrap purchase price at delivery of $340-345 per ton cfr.

This decline in the tender price indicates a softening in the demand for Japanese scrap in the international market, reflecting current conditions in Asian steel markets.