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Kansai Tetsugen Sells No2 HMS for Export at Y22,220 FAS
Japan's Osaka-based Kansai Tetsugen federation of ferrous scrap dealers has sold 5,000 tons of No2 HMS to the successful bidder Arae Shoukai Co at Y22,220/ton FAS Osaka Bay in the 52nd joint export tender that the federation held July 13 for shipment July 27-August 31.

A total of seven buyers responded with separate FAS bids to Kansai Tetsugen's export tender this time. The highest bid stood at Y22,220/ton, the second highest at Y21,710/ton, and the third highest at Y21,000/ton. Offered purchases totaled 28,000 tons.

The single winning bid of Y22,220 FAS was lower by Y4,130 than the average (Y26,350/ton FAS) of the two winning bids in Kansai Tetsugen's 51st joint export tender that took place June 16. Also, the single winning bid was lower by Y807 than the average (Y23,027/ton FAS ) of the three winning bids in the export tender held July 9 by the Tokyo-based Kanto Tetsugen cooperative association of ferrous scrap dealers.

In this connection, the outcome of Kansai Tetsugen's 52nd joint export tender is thought to have reflected a weakening of Japan's ferrous scrap export market for new deals, according to market observers. The latest prices of No2 HMS have further slid to the level of Y22,500-23,000/ton FOB in new deals for Japan's ferrous scrap exports to South Korea.
last modified : Fri 17 Jul, 2015 [09:38]
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