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| FAS Tokyo Bay Prices Dip For Local Scrap |
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Japan's FAS prices of locally available ferrous scrap have dipped in the Tokyo Bay area in the wake of an enhanced feeling that the nation's ferrous scrap export market has peaked out for the present after a fall in negotiated prices of exports to South Korea. With backlogs of ferrous scrap exports at a high level, though, few market sources expect FAS prices to fall without a break in the Tokyo Bay area. As a result, there is a possibility that a decline in FAS prices there will prove a temporary one for the correction of high prices. In the Tokyo Bay area, there are pervasive moves to reduce ex yard prices of local ferrous scrap by Y500-1,000/ton. Cases in point are deals at the terminals of the Funabashi central and Kawasaki municipal wharves. As a result, the benchmark of prices stands at Y22,00/ton ex yard for No2 HMS. Also, the going ex yard prices of No2 HMS have come down, with a low of Y21,500/ton and a high of Y22,500/ton. As high grades of material go, a decline of Y500 or so applies to FAS prices. The going ex yard prices are 25,000-25,500/ton for P&S scrap and Y26,000-26,500/ton for new production scrap. |
| last modified : Thu 05 Feb, 2009 [10:49] |
