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|Kanto Mkt: Benchmark Price of H2 Ex Works Is Y 32.5K to 33K|
|= Each electric steelmaker in the area increases a price again from February 26 =|
The ferrous scrap market in the Kanto area increased further. In response to the decision of increase of purchase price by Y 500 from February 26 by Utsunomiya Plant of Tokyo Steel in the evening of February 25, most of the electric steelmakers in the Kanto area followed it on the same day. The price increase of that Plant, which had started from February 14, was already 5th times. The range of price increase during that time totally reached Y 2,500. As of February 26, of the total electric steelmakers, except purchased ferrous scrap by term contract, the following electric steelmakers, such as Funabashi Works of Godo Steel, Jonan Steel, Chiyoda-Steel, and Mukoyama Steel Works maintained a purchase price. On the other hand, many electric steelmakers in the area, except the above-mentioned electric steelmakers, raised a price by the range of Y 500 for major items. The Kanto ferrous scrap market increased further. |
As of February 26, the benchmark market price of No.2 HMS ex works in the Kanto area increased further to around Y 32,500 to 33,000, up by Y 500 from the end of a week ago. Concerning the high price range, Utsunomiya Plant of Tokyo Steel set the price of No.2 HMS ex Plant at Y 33,500, and the purchase price at that Plant marked the highest price for the 1st time in 3 months since November 23, 2018.
The average ratio of arrival of ferrous scrap to the electric steelmakers in the area improved to almost 100%, according to some supplier. Because the market soared in the short period or 2 weeks, the sense of proper price appeared in the market. Because the cargo movement in the market improved by the special environment at the end of month, some supplier pointed out that the cargo movement in this week slightly recovered.
Meanwhile, some ferrous scrap business operator pointed out that the arrival of ferrous scrap to Utsunomiya Plant of Tokyo Steel, a price leader in the area, did not reach the quantity of usage, because the electric steelmakers in the surrounding area followed Utsunomiya Plant, and raised a price continuously. Some supplier expected that the Kanto market would increase further, and keep firmer tone for a while.
|last modified : Tue 05 Mar, 2019 [10:34]|