Higher Kanto Tetsugen auction price boosts sentiment in Asian scrap market

Japan’s Kanto Tetsugen has secured a higher price at its ferrous scrap auction for December, which is likely to boost sentiment in the Asian market for the steelmaking raw material.

A total of 23,000 tonnes of H2 scrap were sold to two trading companies on Wednesday December 11 at the auction held by the cooperative of scrap dealers in Japan’s most-industrialized region - 3,000 tonnes priced at ¥26,100 ($240) per tonne, and two 10,000-tonne lots at ¥25,760 per tonne.

The average price of ¥25,804 per tonne is ¥1,497 per tonne higher than that secured at its November...

Published

Paul Lim

December 11, 2019

07:26 GMT

Singapore