Ferrous scrap market price keeps being wait and see situation around Tokyo. Ferrous scrap purchasing price by dealers is around 29,000 yen per tonne for H2 grade. They pay 35,500-36,000 yen for H2 grade and some pay as high as 37,000 yen. Local makers get smooth scrap arrivals due to slower export shipping from Tokyo bay. Most makers decreased their purchasing price by 500-1,000 yen per tonne at the end of April, which decreased for the first time in 3 months.Ferrous scrap export price also keeps flat when overseas market prices in USA or South Korea are decreasing. Some electric furnace steel makers in South Korea signed the import contracts with Russian and American exporters other than Japan. South Korean scrap users seemed to finish contracts for immediate demand. Japanese ferrous scrap export price hit record FAS 36,260 yen per tonne in average for H2 grade for May shipment at tender held by Kanto Tetsugen on April 13, which exceeded the purchasing price by electric furnace steel makers slightly around Tokyo. Hyundai Steel of South Korea offered FOB 36,500 yen per tonne for H2 to Japanese ferrous scrap dealers at scrap purchase tender on April 20. The price kept flat while the offer price was decreasing since first week of April.
Japan Steel Scrap Composite Prices (Sangyo Press)10/11/2019
|22300YEN (-200)||24700YEN (-100)|
|204.34US$ (-3.28)||226.34US$ (-2.51)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)