Japanese H2 scrap base prices rise in Tokyo Bay region

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

According to data, the Japanese H2 scrap base price in the Tokyo Bay region increased by ¥ 500/ton to ¥ 29,500~ ¥ 30,000/ton FAS as of Wednesday, 2^nd April.

Also, the base price of P&S scraps in the region averaged at ¥ 33,000/ton ~ ¥ 33,500/ton. The P&S scrap prices appreciated by nearly $2,000/ton when compared with the average prices a month ago.

The base price of Shindachi scraps too averaged at ¥ 33,000/ton ~ ¥ 33,500/ton.

According to industry sources, the scrap prices may continue to maintain its uptrend in the forthcoming weeks on the back of increased demand.

Meanwhile, Tokyo Steel-the country’s top producer of H-beams has announced to hike its scrap purchasing prices at its Utsunomiya works in northern Kanto by ¥1,000/ton effective today(April 8^th).