JMB reported that Japanese ferrous scrap export price hits JPY 21,636 per tonne FAS for May shipment at averaged successful bid for monthly export tender held by Kanto Tetsugen.

The price was JPY 4,110 higher than previous tender. The tender result, which is JPY 3,000 to JPY 4,000 higher than purchase price by domestic electric furnace steel makers, is expected to impact on domestic market.