Japan's domestic market prices for locally available ferrous scrap averaged Y33,891/ton delivered steelworks for No2 HMS in the Kanto, Chubu, and Kansai areas in the third week of March 2007, up Y811 from a week ago, according to a survey by the Japan Ferrous Raw Materials Association. As a result, the average price advanced for six consecutive weeks. Also, the average price hit an all-time high for the first time in 26 years and 11 months since April 1980.|
In the third week of March 2007, the monitor prices of No2 HMS ex steelworks in cash transactions were Y33,267/ton in Kanto, up Y667 from a week ago; Y34,240/ton in Chubu, up Y1,000; and Y34,167/ton in Kansai, up Y767. The monitor price indicates the average of benchmark prices.
In the week under review, No2 HMS prices across the nation averaged Y34,232/ton delivered steelworks, up Y776 from a week ago.