Japan's domestic transaction prices of locally available ferrous scrap averaged Y34,251 /ton delivered at steelworks for No. 2 HMS in the main trading areas of Kanto, Chubu and Kansai in the 3rd week of February, slightly down by Y 67 from a week ago, according to a weekly price survey by the Japan Ferrous Raw Materials Association. The decline continues for 4 straight weeks.|
The surveyed prices of No. 2 HMS ex steelworks in cash transactions were Y34,833/ton in Kanto, unchanged from a week ago; Y33,420/ton in Chubu, down by Y 200 ditto; and Y34,500/ton in Kansai, unchanged ditto. The domestic ferrous scrap market unchanged in 2 areas, and paused the correction phase nationwide. The market is filled with the sentiment of staying on the sidelines.