At the Japanese dealers' tender meeting for the export of scrap, the average price of No 2 heavy scrap is around USD 358 per tonne, up by nearly USD 8 per tonne from July 2010. It is the first time to break USD 350 per tonne in the past four months.
On other hand, the domestic price in Japan has soared for three weeks in a row since late August 2010, climbing to nearly USD 351 per tonne from USD 310 per tonne.
Tokyo Steel Manufacturing Co also surges its purchasing price on No 2 heavy scrap around USD 368 to USD 385 per tonne since August 25th 2010.
(Sourced from YIEH.corp)