JMB reported that Japanese ferrous scrap export price hit JPY 31,940 per tonne FAS for H2 grade at the export tender for September shipment held by Kanto Tetsugen, which is JPY 5,187 higher than a month earlier.
The price is JPY 2,000 to JPY 3,000 higher than purchase price by local electric furnace steel makers. The higher export price is expected to support local market price.