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| Osaka No2 HMS Benchmark Up To Y26,000-26,500 Ex Steelworks |
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Japan's domestic benchmark prices of locally available ferrous scrap have risen further to Y26,000-26,500/ton delivered steelworks for No2 HMS in the Osaka area in the wake of various electric steelmakers' purchase price increases by Y500-1,000/ton for main grades of local ferrous scrap. In the Osaka area, prices of high-grade local ferrous scrap indicate a continued advance as well. Benchmark prices are Y28,000-28,500/ton ex steelworks for P&S scrap, with a high of Y29,000/ton. On ex yard terms, No2 HMS is selling at a pervasive Y26,000-26,500/ton in the Osaka Bay area, with highs of Y27,000/ton for No2 HMS and Y29,000/ton for P&S scrap. Various electric steelmakers operating in the Osaka area face much less arrivals of local ferrous scrap than what their works require, according to suppliers. They even admit cases of arrivals below 80% of the required level. For their part, ferrous scrap dealers expect supply-demand conditions for local ferrous scrap to continue tight in the Osaka area for a while. They point out a pronounced supply shortage of local ferrous scrap in slack arisings. In the Himeji area, meanwhile, three electric steelmakers increased what they pay for local ferrous scrap by Y1,000/ton each for main grades from July 10. The three companies are Yamato Steel Co, JFE Bars & Shapes Corp and Sanyo Special Steel Co. As a result, the new delivered price of No2 HMS at Yamato Steel's Himeji works is Y26,500/ton for overland arrivals. |
| last modified : Thu 16 Jul, 2009 [10:33] |
