H2 scrap base prices continue to hold firm in Tokyo Bay region

TOKYO (Scrap Monster): According to reports, the average base price of Japanese H2 scrap remained steady in the country’s Tokyo Bay region as on September 15th. The prices have remained steady when compared with the previous week prices.

The base price of H2 scraps averaged at ï¿¥33,000 per ton in the Tokyo Bay region as on September 15^th. At the same time, base price of P&S scraps averaged at ï¿¥34,500 to ï¿¥35,500 per ton in the region. Also, Shindachi scraps averaged at ï¿¥35,000 to ï¿¥35,500 per ton.

As per industry sources, the average base prices of Japanese H2 scrap are expected to rise marginally in the forthcoming weeks.

Meanwhile, Tokyo Steel has announced a further hike of ¥ 500/ton to ¥ 1,000/ton in scrap purchasing prices effective September 13^th, 2014. The company had announced similar hike on September 11^th. This is the second consecutive hike in scrap purchasing prices in three days.