Ferrous scrap purchasing price by electric furnaces steel manufactures in Tokyo area continued to increase by 500 yen from the previous week. It by local electric furnaces steel manufactures is around 23,500-24,000 yen per tonne for H2. A growing number of electric furnaces start to buy scrap for defense because export price at Tokyo bay area is increasing and scraps of 30,000-40,000 tonnes per week are shipped for abroad.Tokyo steel manufacturing Utsunomiya Works hiked the purchasing price by 500 yen per tonne to 24,500 yen for special grade last week. It is ground of increasing of export price, and other makers raised the price by 500-1,000 yen. Now therefore, the purchasing price by electric furnaces steel manufactures increased by 1,500 yen or 6.7% from low price at the beginning of February. Supply and demand is tight, and the purchasing price and market price is likely to increase further.
Japan Steel Scrap Composite Prices (Sangyo Press)12/08/2023
|49900YEN (-)||51400YEN (-)|
|345.93US$ (9.15)||356.33US$ (9.43)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)