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Kanto No2 HMS Benchmark Up To Y36,000-36,500
FAS Tokyo Bay Benchmark At Similar Price Level For No2 HMS

Japan's local ferrous scrap market further advanced by Y1,000/ton to Y36,000-36,500/ton delivered at steelworks as of April 12 for the benchmark of No2 HMS prices in the Kanto area, with a high of beyond Y37,000/ton.

In the Kanto area, various electric steelmakers increased what they pay for local ferrous scrap by Y1,000/ton for main grades from April 12 to meet what pricing leader Tokyo Steel Mfg Co executed from the same date. But Itoh Iron & Steel Co and Jonan Steel Corp executed a larger price increase of Y1,500/ton each for main grades. As a result, Jonan Steel sets the new delivered price of No2 HMS at Y36,000/ton for its Kawaguchi works.

Arrivals of local ferrous scrap are less than adequate as a whole at the works of various electric steelmakers operating in the Kanto area, according to ferrous scrap distributors.

Under the existing circumstances, the Kanto market for local ferrous scrap is expected to continue strong, believe many of market sources.

In the Tokyo Bay area, meanwhile, FAS prices of local ferrous scrap moved up by Y1,000/ton from April 12. As a result, the new benchmark prices of ex yard supplies are Y36,000-36,500/ton for No2 HMS. The corresponding prices of high-grade material are Y40,000-40,500/ton for P&S steel scrap and Y40,500-41,000/ton for Shindachi.
last modified : Mon 18 Apr, 2011 [11:05]
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