San-Etsu Metals, Japanese brass bar maker, announced on Wednesday it raises the rolling charge of brass bar by 10,000 yen per tonne effective on Thursday. Brass turning scrap price is soaring under the tight supply, which is main material for brass bar. The firm needs to pay the premium adding on the market price in order to secure enough brass turning scrap, though the firm set the brass bar selling price with indicator of brass turning scrap market. San-Etsu Metals revised up the rolling charge for the first time in 2 years.Domestic supply of brass turning scrap has seriously tightened in Japan since the last half of 2005 with the increasing export. Brass bar makers need to add the premium of 30-40 yen per kilogram on the market price to procure enough brass turning scrap. Material costs exceed the market price and impact brass bar makers’ earnings as a result.
Japan Steel Scrap Composite Prices (Sangyo Press)09/28/2023
|50400YEN (-)||52000YEN (-)|
|334.55US$ (-1.27)||345.17US$ (-1.31)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)