Electric furnace steel makers around Tokyo are continuing to increase their purchasing prices for ferrous scrap from the end of June. The purchasing price increased by about 2,000 yen to 35,000-36,000 yen per tonne for H2 grade and some pay as high as 36,500 yen due to the increased export price for East Asia.Utsunomiya works of Toyo Steel Manufacturing raised the price by 500 yen per tonne to 36,500 yen for H2 on Friday. Other local makers raised the price, too.The FAS export price from Tokyo Bay is increasing with increasing contract export price. Additionally, local makers’ purchasing volume is decreasing when ferrous scrap emergence volume is low in the region.Dealer source said the supply wouldn’t become loose rapidly because there is export contract at the price level as same as local makers’ purchasing despite of the makers’ seasonal output reduction in summer.
Japan Steel Scrap Composite Prices (Sangyo Press)04/03/2020
|19500YEN (-)||21700YEN (-)|
|178.72US$ (-1)||198.88US$ (-1.12)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)