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|Osaka No2 HMS Benchmark Slips to Y28,500-29,000 ex Steelworks|
Japan's local ferrous scrap market in the Osaka area slipped by Y500/ton to Y28,500-29,000/ton delivered at steelworks as of Dec 1 for benchmark prices of No2 HMS when its delivered prices indicated a high of Y29,500/ton or over. |
In the Osaka area, three electric steelmakers reduced their purchase prices of local ferrous scrap in reaction to what Tokyo Steel Mfg Co executed from Nov 29 at its Okayama works in western Japan. Kyoei Steel Ltd and Godo Steel Ltd reduced their purchase prices by Y500/ton each for all grades at the former's Hirakata and Osaka works and at the latter's Osaka works. Kishiwada Steel Co reduced its purchase price of turnings alone by Y500/ton.
The Osaka market for local ferrous scrap is expected to edge down in a weak tone as a price reduction of local material could spread among electric steelmakers operating in the Osaka area, according to market sources.
In the Himeji area, meanwhile, benchmark prices of No2 HMS declined to Y27,500-28,000/ton delivered at steelworks as of Dec 1 after separate price reductions of local ferrous scrap by three electric steelmakers. Godo Steel Ltd and Sanyo Special Steel Co held down their purchase prices by Y500/ton each for all grades. Yamato Steel Co lowered its purchase prices by Y500/ton for grades except turnings. As a result, Yamato Steel sets the new delivered price of No2 HMS at Y27,500/ton for overland arrivals at its Himeji works, in which a freight rate subsidy of Y500/ton is applied separately.
|last modified : Mon 08 Dec, 2014 [10:11]|