TEX reported that Japan's FAS prices of locally available No 2 HMS in the Tokyo Bay area remained unchanged at JPY 25,500 to JPY 26,000 per tonne as of June 29th 2012 for benchmark of No 2 HMS prices. At the time, No 2 HMS sold at around JPY 25,500 per tonne for stocking at waterfront yards while having fetched prices of JPY 26,000 per tonne or so for cargoes to load assigned vessels.

As of June 29th 2012, benchmark FAS prices of high grade ferrous scrap changed little there as well. They were around JPY 28,500 per tonne for P&S steel scrap and around JPY 29,000 per tonne for Shindachi.

In the Tokyo Bay area, FAS prices of ferrous scrap cargoes changed little last week after they rebounded by JPY 1,000 per tonne from their low. Many trading companies see a strong possibility that the FAS prices will decline again this week rather than advance.

Source - TEX Report Limited

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