Japan's Kansai Tender Fetches Bid Lower by USD 9 from Kanto Results

Japan's Kansai Iron and Steel Federation, an association of scrap dealers around the Osaka region concluded its first tender for CY'20 yesterday (16th Jan'20). The material loading period is from 20th Jan-20th Feb'20.

The winning bid in this month's tender was awarded a total 5,000 MT of Japanese H2 at an average of JPY 25,650/MT (USD 233) FAS.

Notably, the bid price is lower by JPY 1,017/MT (USD 9) against the Kanto Tetsugen Association's tender concluded last week on 10th Jan'20 at JPY 26,667/MT (USD 243) for 26,100 MT Japanese H2.

Reasons cited behind the decline in bids in Kansai tender was limited buying interest is owing to smaller lot size offered.

Kansai tender has been concluded after a gap of 3 months, as prior to this the association had concluded 2 tenders in Oct'19.

~Inputs from Steel Daily & Japan Metal Daily