Japan: Kanto scrap tender prices extend rally in Feb’26, approach Jun’23 highs
- Japan’s February Kanto scrap tender marked its seventh consecutive increase, returning to levels last seen in June 2023, with bids up JPY 1,312/t ($8/t) m-o-m. A 20,000-t H2 cargo was awarded to a Chattogram-based mill at JPY 48,083/t ($309/t) FAS, equivalent to $315-318/t FOB and above $360/t CFR Chattogram.
- In dollar terms, the tender gained $11/t, supported by a stronger yen, which appreciated from JPY 156.9/$ on 9 January to JPY 155.3/$ on 10 February.
