Tokyo's Ferrous Scrap Price Exceeds 20,000 yen
The ferrous scrap price in the Tokyo area exceeded 20,000 yen per tonne for H2, the benchmark scrap in 3 months. The local electric furnace steel makers' ferrous scrap purchase prices are around 21,000 yen per tonne for H2 with 3-6 mm thick, whose highest prices are around 23,500 yen per tonne. Those prices rose by around 4,000 yen per tonne or 23.5% from the end of June when the lowest price was marked in 2004. Following sharp rise of the export prices to Asia, the local electric furnace steel makers raised the purchase prices one after another.
On July 14, Tokyo Steel Manufacturing raised the purchase prices of every kind of ferrous scrap by 2,000 yen per tonne to 23,500 yen per tonne for Special Level. Following the hikes by the firm, on the same day, Jonan Steel Corporation raised it by 1,500 yen per tonne to 21,500 yen per tonne for Special Level; CHIYODA-STEEL did to 21,500 yen per tonne for H2; Funabashi works of Godo Steel did to 19,400 yen per tonne for H2; Mukouyama plant of the firm did to 20,000 yen per tonne for H2; Asahi Kogyosha increased it by 2,000 yen per tonne to 20,300 yen per tonne for H2; Oyama plant of Tokyo Tekko did to 21,800 yen per tonne for H2.
The shipping prices are also on the rise; those for coastal service are around 22,000 yen per tonne for FAS; and those for export are around 20,000-21,000 yen per tonne for H2. The spot prices of new factory busheling scrap with shortage of the stock are around 26,000 yen per tonne for FAS, some say. The new contract scrap price to Taiwan was C&F $245-250 per tonne or FAS about 22,700 yen per tonne for H2, up $10 per tonne from the beginning of this month; compared with the shipping accounts in the most recent, there are price differences; so the export market is likely to be on the rise.
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