Japan's Chubu scrap tender weakens in September
Japan's Chubu Tetsugen Kyogikai awarded its September joint tender for Shindachi scrap at JPY 52,600/tonne ($342/t) fas, down JPY 1,400/t from the previous tender, Kallanish notes.
The tender, held on 11 September for October shipment, covered 3,000 tonnes of bulk shindachi scrap. The winning price marked the fourth consecutive monthly decline and was in line with prevailing portside prices in the Chubu region.
13 trading companies registered for the tender, while three of them withdrew from bidding.
The continued decline in the tender price reflects softer Japanese scrap market conditions. Last week, Japan's Kanto Tetsugen H2 scrap export tender also concluded lower at JPY 48,113/t, down JPY 973/t from the August tender.
From: Kallanish
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