03 Apr 2014 Last updated at 03:58:28 GMT
TOKYO (Scrap Monster): The base price of Japanese H2 scrap has gone higher in the Kanto region. The base prices are now in the range ¥ 29,000~ ¥ 30,000 per ton. The rise in base price was mainly driven by the news that Tokyo Steel has announced a rise of ¥ 1,000/ton in scrap purchasing prices effective April 1st at the Utsunomiya works in northern Kanto.
According to reports several electrical furnace mills have hiked H2 scrap purchasing price by ¥ 500 on April 1st itself.
The country’s top producer of H-beams- Tokyo Steel had announced a rise of ¥ 1,000/ton in scrap purchasing prices effective April 1st, 2014 at the Utsunomiya works. This was the first hike in H2 scrap prices after a series of continuous decline during January and February this year.
Post hike, the scrap purchasing prices at Utsunomiya works in northern Kanto have now increased to ¥ 30,000/ton.
Author: Paul Ploumis