Japan: Kanto scrap export tender for Nov'24 sees drop in bid prices
The Kanto Iron and Steel Cooperative's Nov'24 scrap export tender saw a slight dip of $3/t (JPY 500/t) in bid prices despite a weaker JPY.
- Notably, bid prices stood at $294/t (JPY 45,180/t) FAS, compared to $297/t (JPY 45,680/t) in Oct'24. Sources report a booking of 15,000 t.
- The downtrend follows cautious market sentiments due to US election uncertainties and the Chinese stimulus.