CHINA STEEL SCRAP: Bullish sentiment persists amid strong Kanto tender results

Prices for steel scrap imported into China increased further on Tuesday May 11 after the highest bid price at the bellwether Japan Kanto Tetsugen increased by ¥5,899 yen ($54.21) per tonne month on month.

The Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2 grade scrap export auction on Tuesday with the highest bid price at ¥49,279 ($453) per tonne fas for a volume of 5,000 tonnes. The highest bid price for April was heard at ¥43,380 per tonne fas, as reported by the Kanto Tetsugen Cooperative Association.

Bids for imported HRS101-grade scrap on May 11 were...

Published

Lee Allen

Tianran Zhao

May 11, 2021

11:45 GMT

Shanghai, Singapore