Japan's domestic transaction prices of locally available ferrous scrap averaged Y34,318 /ton delivered at steelworks for No. 2 HMS in the main trading areas of Kanto, Chubu and Kansai in the 2nd week of February, down by Y 966 from a week ago, according to a weekly price survey by the Japan Ferrous Raw Materials Association. The decline continues for 3 straight weeks.|
The surveyed prices of No. 2 HMS ex steelworks in cash transactions were Y34,833/ton in Kanto, down by Y 1,000 from a week ago; Y33,620/ton in Chubu, down by Y 900 ditto; and Y34,500/ton in Kansai, down by Y 1,000 ditto. The domestic ferrous scrap market declined altogether in 3areas, and entered the correction phase nationwide.