TOKYO (Scrap Monster): The country's top producer of H-beams- Tokyo Steel has announced a rise of ¥ 500 in scrap purchasing prices effective April 11th, 2014. This is the third consecutive hike in H2 scrap prices. Earlier, the company had announced a rise of ¥ 1,000/ton in scrap purchasing prices effective April 1st , 2014 at the Utsunomiya works and also a rise of ¥ 500 ~ ¥ 1,000/ton effective April 4th, 2014.
Post cuts, the average scrap purchasing price now remain in the range ¥ 32,000~ ¥ 34,000/ton.
The scrap purchasing prices at Okayama works in Western Japan were at ¥ 33,000/ton and those in Kyushu works increased by ¥ 500/ton to touch ¥ 34,000/ton.
Tokyo Steel's scrap purchasing prices in Tahara works in Central Japan were at ¥ 33,000/ton, while those in Takamatsu steel center on Shikoku Island were at ¥ 32,000/ton.
The scrap purchasing prices at Utsunomiya works in northern Kanto have now increased to ¥ 32,500/ton.
According to trade analysts, mini-mills in the country too have started hiking thier scrap buying prices. The prices may rise further in the coming days, they said.
For queries, please contact Michael Jiang at michaeljiang@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn