The base price of Japanese H2 scrap has declined in the Tokyo Bay region. The base price of P&S scraps and Shindachi scrap also has dropped.
According to data, the Japanese H2 scrap base price in the Tokyo Bay region fell by ¥ 5000/ton to ¥ 32,000~ ¥ 32,500/ton FAS as of Thursday, 10th July, 2014.
Also, the base price of P&S scraps in the region averaged at ¥ 34,000 ~ ¥ 34,500/ton.
The base price of Shindachi scraps too averaged at ¥ 34,000 ~ ¥ 34,500/ton.
According to industry sources, the lower supplies may result in higher H2 scrap prices during the month of August this year.
Meanwhile, Tokyo Steel had announced a cut of ¥ 500/ton in scrap purchasing prices effective July 8th, 2014 at its Utsunomiya works. Post cut, the average scrap purchasing price now remain in the range ¥ 32,500~ ¥ 34,000/ton.
The scrap purchasing prices at Okayama works in Western Japan were at ¥ 33,500/ton and those in Kyushu works remained flat at ¥ 33,500/ton.
Tokyo Steel’s scrap purchasing prices in Tahara works in Central Japan were at ¥ 34,000/ton, while those in Takamatsu steel center were at ¥ 32,500/ton.
The scrap purchasing prices at Utsunomiya works in northern Kanto have now dropped to ¥ 33,500/ton.