Japanese H2 scrap base prices rise in Tokyo Bay region

TOKYO (Scrap Monster): The base price of Japanese H2 scrap has increased in the Japanese Tokyo Bay region. According to sources, the Japanese H2 scrap base price in the region surged higher by ï¿¥500/ton to average at ¥ 25,500/ton FAS as of Monday, 25^th May, 2015.

The base prices of P&S scraps also increased to average at ¥ 27,000/ton to ¥ 27,500/ton in the region. Meantime, Shindachi scrap average base prices too were in the range of ¥ 27,000/ton to ¥ 27,500/ton in Tokyo Bay region. The average prices of Shindachi scrap too increased by ¥ 500during this period.

The domestic demand for H2 scrap has started signs of improvement. Moreover, replenishment of inventories by mills also led to rise in scrap prices.

Meantime, Tokyo Steel has announced further hike of ¥ 500/ton in scrap purchasing prices. Post hike, the average scrap purchasing price of H2 grade scrap now remain in the range ¥ 24,000~ ¥ 26,500/ton.

The scrap purchasing prices at Okayama works in Western Japan will be hiked by ¥ 500/ton to ¥ 24,500/ton and those in Kyushu will be at ¥ 25,000/ton.

Tokyo Steel’s scrap purchasing prices in Tahara works in Central Japan will be ¥ 25,500/ton, while those in Takamatsu steel center on Shikoku Island will be hiked by ¥ 500/ton to ¥ 24,000/ton.

The scrap purchasing prices at Utsunomiya works in northern Kanto will be now ¥ 26,500/ton.