Japan Scrap Metal Market Summary Feb 28
on February 28th, 2009 at 9:14 amJapanese H2 scrap average prices down – During the fourth week of February, Japanese HMS2 scrap average price has dropped by ￥111/ton to ￥18,955/ton in the Kanto region, middle part, and Kansai region.
Among them, H2 scrap price was remained at ￥20,917/ton in the Kanto region; H2 scrap price at ￥17,380/ton in the middle part; ￥18,567/ton in the Kansai region, down by ￥333/ton compared to last week.
Japanese scrap price falling – Japanese scrap price keeps on falling and may decrease further because China and Taiwan have refrained from buying scrap.
It is reported that Korean Hyundai purchased H2 scrap from Japan last week, at ￥22,000/ton. Besides, Hyundai won’t purchase more for the time being, but they will consecutively request to reduce the purchasing price.
Japanese high level scrap price won’t slide in line with dropping H2 scrap price. Hyundai’s latest purchasing price for new scrap was ￥25,000/ton, and that of P&S scrap was ￥24,000/ton.
Source: www.yieh.com
