Japan’s June H2 scrap export tender stable from May

Market: Metals
11/06/25

The price of the June monthly H2 scrap export tender held by Japanese scrap dealer co-operative Kanto Tetsugen is largely stable from May, which is higher than anticipated, supported by consistent demand from Bangladesh.

The tender for 20,000t of H2 scrap was awarded at ¥42,267/t ($291/t) fas, a modest ¥122/t drop from May. This is equivalent to a fob price of ¥43,267/t ($298/t).

This exceeded market expectations. Many traders had projected a settlement below ¥42,000/t fas, citing weaker seaborne market prices and lower demand on the back of the approaching monsoon season in key buyer regions. The higher-than-expected fas price can be attributed to a lower freight cost after Kanto Tetsugen raised the maximum shipment volume from 15,000t to 20,000t in June.

The tender cargo is bound for Bangladesh and has an estimated a cfr price of around $343-346/t, traders said. Japanese exporters are expected to keep offer levels elevated, buoyed by the higher-than-expected June tender price. But it is uncertain whether buyers in other markets will follow suit given the overall softness in the seaborne steel market.

The Argus H2 fob Japan assessment was at ¥41,400/t on 10 June, and the May monthly average stood at ¥41,545/t fob.

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Japan’s June H2 scrap export tender stable from May

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