Japanese H2 scrap average base prices rise

TOKYO (Scrap Monster): The H2 scrap average base prices increased by ¥ 500 per ton in Japan to reach ¥ 31,500~ ¥ 32,000/ton. This follows the hike in scrap purchasing prices by Tokyo Steel effective April 11^th. The country’s top producer of H-beams had increased the scrap purchasing prices at Utsunomiya works in northern Kanto by ¥ 500 per ton.

The average base price of H2 scrap in Tokyo Bay region now stands at ¥ 31,500 per ton. Meanwhile, the base prices of P&S scraps and Shindachi scraps averaged at ¥ 35,000 per ton.

According to trade analysts, mini-mills in the country too have started hiking thier scrap buying prices. The prices may rise further in the coming days, they said.Reports suggest that Kanagawa based Sanko Seiko Co also has increased the scrap purchasing price by ¥ 1000 per ton.

Tokyo Steel had hiked the scrap purchasing prices for the third consecutive time during this month. Earlier, the company had announced a rise of ¥ 1,000/ton in scrap purchasing prices effective April 1^st , 2014 at the Utsunomiya works and also a rise of ¥ 500 ~ ¥ 1,000/ton effective April 4^th, 2014.