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| The Ferrous Scrap Market in the Kanto Area to Have the
Trends of Rising a Degree Currently, the ferrous scrap markets in the Kanto area, around Tokyo, have the trends of rising further. On July 30, 2003, Utsunomiya plant of Tokyo Steel Manufacturing, Asahi Industries, and Oyama plant of Tokyo Tekko raised the prices by 500 yen. On July 31, Jonan Steel did by 300 yen. Thus, the purchase prices of the electric furnaces in the area rose by 500 yen from last week to 14,500-15,000 yen. The foreign ferrous scrap market has still been on its firm basis, and Tokyo Steel Manufacturing, Utsunomiya, also raised the price again on August 2. Currently, the purchase prices (H2) of the electric furnaces in the area are 14,000-15,700 yen, and the center values are 14,500-15,000 yen. Tokyo Steel Manufacturing, Utsunomiya, raised the prices by total 2,000 yen in July 2, 15, 30, and August 2: The other electric furnaces in the area also did the same thing. The export prices at the coast of Bay of Tokyo are 14,500-14,800 yen, which are rivaling the domestic prices. Each electric furnace is obliged to make the defensive purchase. On the other hand, the export prices of FAS are 14,500-14,800 yen, and those of FAS for domestic vessels are around 15,000-15,300 yen. About the new contract prices, the price for South Korea is 16,500 yen, or FAS 15,500 yen, and that for Taiwan is C&F 168-169 dollars, or FAS 16,300 yen. Both of them to South Korea and Taiwan rose. Furthermore, the American ferrous scrap price to Asia from 177.75 dollars per heavy is likely to be a contract price, and China Steel is likely to make a successful bid for about 190 dollars: Foreign ferrous scrap markets are likely to be more active.  
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| Copyright 2003 Japan Metal Bulletin. No reproduction or republication without written permission. |