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|Fuwa Metal Tender To Sell No2 HMS For Export|
Fuwa Metal Co Ltd, Japan's Osaka-based major ferrous scrap dealer, is contemplating a June 26 tender to sell 5,000 tons of locally available No2 HMS for export, assuming that shipment takes place July 3-Aug 2. |
The tender marks a rare one for export sales by a major ferrous scrap dealer at home. Also, the tender is independent of the Kansai Tetsugen council of ferrous scrap dealers, in which Fuwa Metal is a principal member. Kansai Tetsugen usually holds a joint export tender for locally available ferrous scrap at intervals of one month or two.
In the Osaka area, there is a chronic supply shortage of local ferrous scrap because of more demand than what arises. As a result, local ferrous scrap prices there usually stand at a higher level than those in the Kanto and Nagoya areas.
In this connection, Fuwa Metal's tender this time may be intended to give a stimulus to the local ferrous scrap market in the Osaka area at a time when the export market continues to incite a high level of the domestic market, market sources suggest.
|last modified : Thu 29 Jun, 2006 [17:17]|