Japan's domestic market prices of locally available ferrous scrap averaged Y34,065/ton delivered at steelworks for No2 HMS in the Kanto, Chubu, and Kansai areas in the second week of April 2011, up Y790 from a week ago, according to a survey by the Japan Ferrous Raw Materials Association. As a result, the average price advanced for the first time in five weeks since the first week of March 2011.|
The average price underwent an accelerated fall after the great East Japan earthquake. Until the first week of April 2011, the average price slipped for four consecutive weeks, with a cumulative decline of Y4,512.
In the second week of April 2011, the monitor prices of No2 HMS ex steelworks in cash transactions were Y34,567/ton in Kanto, up Y1,634 from a week ago; Y33,060/ton in Chubu, up Y400; and Y34,567/ton in Kansai, up Y334. The monitor price indicates the average of benchmark prices.