There is the mood of bottoming out of the ferrous scrap market in the Tokyo area. It is around 13,500 yen per tonne for H2, around 15,800 yen per tonne for H1 and around 17,500 yen per tonne for HS, for dealers’ purchase prices.Export price of ferrous scrap in the Tokyo Bay area increased to FAS 22,500-23,000 yen per tonne for H2. It rivals the purchase price of electric furnace steel manufactures, and dealers start to increase inventories anticipating the future increase.Export auction of ferrous scrap for shipping in March by Kanto Tetsugen Kyodokumiai, the ferrous scrap dealers’ association in the Kanto area around Tokyo, will be held on Thursday. The previous contract price continued to fall for 2 months in a row to FAS 21,335 yen per tonne, but this contract price is expected to rally. The export price is likely to edge higher, and the local ferrous scrap market is likely to be firm.
Japan Steel Scrap Composite Prices (Sangyo Press)12/01/2022
|46600YEN (-200)||47800YEN (-100)|
|337.46US$ (2.86)||346.15US$ (3.69)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)