It is reported that the Japanese H2 scrap export market has remained quiet recently after Kanto Tetsugen held a tender for H2 scrap exports on July 11th 2012.

It is known that the Japanese scrap suppliers offered the H2 scraps quoted at JPY 27,000 per tonne FOB; however, the South Korean buyers bid JPY 26,000 to JPY 26,500 per tonne FOB as the US H1 scrap prices have dropped substantially.

Industry sources indicated that the current price trend between Kanto Tetsugen's H2 scraps exports and the US H1 scrap is different.

The average prices of the US H1 scraps dropped sharply by USD 43.33 per long tonne to USD 304.17 per long tonne on July 9th 2012.

Source - www.yieh.com)

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