H2 scrap base prices dropped further in Japanese Tokyo Bay region

TOKYO (Scrap Monster): The base price of Japanese H2 scrap has further declined in the Japanese Tokyo Bay region. According to sources, the Japanese H2 scrap base price in the region fell by ï¿¥1,000/ton to average at ¥ 23,000/ton to ¥ 23,500/ton FAS as of Monday, 16^th February, 2015.

The base prices of P&S scraps dropped by ¥ 1,000/ton to average at ¥ 25,500/ton to ¥ 26,000/ton in the region. Meantime, Shindachi scrap average base prices too were in the range of ¥ 25,500/ton to ¥ 26,000/ton in Tokyo Bay region. The average prices of Shindachi scrap dropped by ¥ 1,000/ton.

The scrap prices are expected to decline further in coming weeks due to low export demand.

Meantime, the average price of Japanese H2 scrap declined further during the second week of February this year. This is the eighth straight week of decline for H2 scrap average prices in the country.

The average price of Japan H2 scrap in Kanto, Central and Kansai region was ¥ 23,676/ton during the second week of February. The average price of H2 scrap in Kanto region was ¥ 25,333/ton. The average H2 scrap price in Central region was ¥ 21,320/ton. The average price of H2 scrap in Kansai region during the first week of February was ¥ 24,375/ton.