Ferrous scrap market price increased by 500 yen per tonne around Tokyo from the previous week when local electric furnace steel makers raised their purchasing price for ferrous scrap at the end of April. Dealers’ purchase price including freight is at around 17,000 yen per tonne for H2, around 19,300 yen for H1 and around 21,000 yen for HS.Tokyo Steel Manufacturing raised its purchasing price by 1,000 yen to 27,000 yen per tonne for H2 at Utsunomiya plant at the end of April. Other electric furnace steel makers also raised their purchase prices by 500-1,500 yen per tonne in order to secure enough scrap for concentrated operation during Japanese holiday period at the beginning of May. Purchasing prices increased to 25,000-26,000 yen per tonne for H2 as a result.Dealers’ purchasing prices increased by 26% from the bottom in early February, which equals to 3,500 yen per tonne, when scrap demand became active from makers before the holiday period. Dealers expect export shipping would concentrate in May and ferrous scrap supply could maintain tight around Tokyo. Both makers’ and dealers’ purchase price could keep the present level for a while.
Japan Steel Scrap Composite Prices (Sangyo Press)02/02/2023
|50400YEN (-)||51700YEN (-)|
|389.19US$ (4.16)||399.23US$ (4.27)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)