|  | 05/07/2004 |
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Ferrous scrap price in Tokyo increases
Ferrous scrap price in Tokyo area changed to increase. Utsunomiya mill in Tokyo steel hiked the purchase price of ferrous scrap by 1500 yen per tonne (21,500 yen for special grade) on Friday. The mill raised by 500 yen each June 22nd and 26th, and it is 2,500 yen up since bottom hitting of market. The price differential between the firm and other firms reach 4,000 yen per tonne. Some local electric furnace steel manufactures start to hike the price, and market price in local area rallied slightly.
The purchase price of ferrous scrap by local electric furnace steel manufactures rose by 500 yen or 2% from the end of the previous month to around 17500 yen per tonne for H2; it was some 21,500 yen at a high price.
Ferrous scrap price in Osaka area started to increase. KYOEI Steel, Godo Steel, Nakayama Kogyo hiked the price by 1,000 yen at the end of last week. Before that, Kishiwada Steel raised it by 700 yen on June 29th. Over half makers hiked the price.
Though the current market price for H2 was some 18,000 yen range, it has almost increased to 19,000 yen range.
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 | Ferrous scrap price in Tokyo increases
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