Electric furnace steel makers increase the ferrous scrap purchase price around Tokyo in the week. Utsunomiya plant of Tokyo Steel Manufacturing and some other makers raised the price to encourage the dealers’ shipment. Their purchase price increased by 2,500-3,000 yen from June to 35,500-36,500 yen per tonne and some pay as high as 37,000 yen. Scrap export FAS price from Tokyo bay increased since June lifting the local market price around the area. Tokyo Steel increased the scrap purchase price at the all plants step by step and increased the price again on Tuesday. Other local makers followed the move. Their purchase price reaches the indicative scrap export price. Hyundai Steel of South Korea offered FOB 36,500 yen per tonne for Japanese H2 grade scrap at weekly tender on Wednesday, which was same price as last week. Local electric furnace steel makers around Tokyo concern the tight supply when scrap dealers around Tokyo bay purchase scrap materials for export under slower generation in the market. The local supply is still tight despite of maintenance outage plans by local steel makers.
Japan Steel Scrap Composite Prices (Sangyo Press)03/26/2020
|20000YEN (-)||22000YEN (-)|
|178.94US$ (0.62)||196.83US$ (0.68)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)