CHINA STEEL SCRAP: Prices steady; first Canadian scrap clears Customs

Prices for steel scrap imported into China were unchanged for a fourth consecutive day on Wednesday June 9 despite the June Kanto Tetsugen auction result inching up by ¥362 ($3) per tonne from last month.

The Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2-grade scrap export auction on Wednesday with the winning bid price at ¥49,195 per tonne fas for a volume of 7,500 tonnes. The average bid price for May was at ¥48,833 per tonne fas, as reported by the Kanto Tetsugen Cooperative Association.

Sources said the highest bidder was awarded with the cargo and it would likely be sold to a mill in Vietnam. The highest bid far outstripped other buying interest levels at the...

Published

Lee Allen

Paul Lim

Tianran Zhao

June 09, 2021

10:29 GMT

Shanghai, Singapore