Japan Ferrous Scrap Export Rises by 28.5% in January

Japanese ferrous scrap export increased to FAS 18,198 yen per tonne by 4,035 yen in January shipping from December shipping 2008 from Tokyo bay, according to Japan Ferrous Raw Materials Association. The export price slightly exceeded the purchase price of ferrous scrap by electric furnace makers around Tokyo. Dealer source said the export price isn’t seemed to make impact to domestic ferrous scrap market price when the demand for ferrous scrap is expected to drop in Japan due to reducing steel products output by electric furnace makers.

The successful bids were 18,450 yen per tonne, 18,400 yen, 18,200 yen and 17,740 yen by 4 bidders for 20,000 tonnes of export to ship by February 15. All 12 eligible exporters submitted 18 bids. They offered total 95,000 tonnes. Their offer increased by 2,000 tonnes from last month. The purchase price by local electric furnace makers is 17,000-18,000 yen per tonne for H2. Mainly Chinese importers are purchasing Japanese ferrous scrap.