|The TEX Report Topics < Scrap & Pig Iron >|
|HOME >> Topics List >> April, 2008 >> 10 (Thu)|
|Kanto Tetsugen Sells No2 HMS For Export At Y58,000 FAS|
Japan's Kanto Tetsugen cooperative association of ferrous scrap dealers has sold Kusano Co Ltd 5,000 tons of No2 HMS at Y58,000/ton FAS Tokyo Bay in the tender Kanto Tetsugen held April 9 to export locally available ferrous scrap from the Kanto area for May shipment (with a May 31 deadline). |
The sales price indicates an increase of Y5,750 on what was settled in Kanto Tetsugen's earlier export tender that took place March 11. The sales price also marks a new high in Kanto Tetsugen's monthly export tender.
The tender brought bids from 14 trading companies. The highest bid was Y58,000/ton FAS, while the lowest bid was Y51,000/ton FAS. Offered purchases totaled 70,000 tons, up 12,000 tons from the previous tender.
Kanto Tetsugen President Atsushi Watanabe made his comments April 9 to the following effect.
<>The winning bid has met what Kanto Tetsugen expected.
<>Kanto Tetsugen has limited its sales volume to 5,000 tons this time so that the association can adjust its export sales under contract, including a backlog of shipments.
<>Arrivals of local ferrous scrap are likely to fall at the Utsunomiya works of Tokyo Steel Mfg Co as strict rules are in effect there to check overloading of each incoming truck.
<>The Kanto market for local ferrous scrap is forecast to continue strong. For the main factor, Tokyo Steel is expected to execute a more price increase in its purchases of local ferrous scrap at the Utsunomiya works in the Kanto area.
|last modified : Tue 15 Apr, 2008 [10:31]|