Author: Paul Ploumis
08 Apr 2015 Last updated at 08:05:47 GMT
TOKYO (Scrap Monster): As per reports, scrap base prices remained steady in the range between ¥ 24,000/ton to ¥ 25,000/ton in Japanese Osaka region as on April 2nd. Steel mills in the region are reported to have halted scrap purchases on account of sufficient inventories. The demand is likely to drop further as certain steel mills in the region have scheduled cut in crude steel output during the forthcoming weeks.
Meanwhile, average price of Japanese H2 scrap continued its downward trend during the fourth week of March.
The average price of Japan H2 scrap in Kanto, Central and Kansai region was ¥ 22,579/ton during the fourth week of March. The prices edged lower by ¥ 42/ton from the previous week. The prices had averaged at ¥ 22,621/ton during the third week of March.
The average price of H2 scrap in Kanto region was ¥ 22,667/ton. The average price in Kanto region remained flat when compared with the previous week.
The average H2 scrap price in Central region was ¥ 21,320/ton. The average prices in the region held steady when compared with the week before.
The H2 scrap average prices declined in Kansai regions. The average price of H2 scrap in Kansai region during the fourth week of March was ¥ 23,750/ton, down by ¥ 175/ton when compared with the previous week.