H2 scrap base prices drop further in Tokyo Bay region

TOKYO (Scrap Monster) : The base price of Japanese H2 scrap has declined in the Tokyo Bay region. The base price of P&S scraps and Shindachi scrap also has dropped.

According to data, the Japanese H2 scrap base price in the Tokyo Bay region fell further average at ¥ 28,500/ton FAS as of Thursday, 16^th October, 2014.

Also, the base price of P&S scraps in the region averaged at ¥ 30,500/ton to ¥ 31,000/ton.

The base price of Shindachi scraps too averaged at ¥ 30,500/ton to ¥ 31,000/ton.

According to industry sources, Tokyo Steel’s announcement to cut scrap purchasing prices by ¥ 1,000/ton on October 17^th, resulted in the decline of H2 scrap base price in the region. Moreover, export orders to South Korea have slowed down since buyers anticipate further price fall in the forthcoming weeks.

Meanwhile, Tokyo Steel had announced a cut of ¥ 1,000/ton in scrap purchasing prices for all grades effective October 16^th, 2014 at all its five steel works.

The scrap purchasing prices at Okayama works in Western Japan were reduced by ¥ 1,000/ton to ¥ 29,000/ton and those in Kyushu works too dropped by ¥ 1,000/ton to ¥ 30,500/ton.

Tokyo Steel’s scrap purchasing prices in Tahara works in Central Japan were at ¥ 30,000/ton, while those in Takamatsu steel center were at ¥ 29,000/ton.

The scrap purchasing prices at Utsunomiya works in northern Kanto have now dropped by ¥ 1,000/ton to ¥ 30,500/ton.