Japan Steel Scrap Composite Prices, which are averaged ferrous scrap market price in Tokyo, Nagoya and Osaka, were unchanged at 26,900 yen per tonne for H2 grade and 30,100 yen for new cutting press at the dealers’ purchase price including freight last week.The dealers’ ferrous scrap purchase price increased by 500 yen to around 30,000 yen per tonne for H2 grade around Tokyo last week. The dealers’ purchase price was 24,800 yen per tonne for H2 grade around Nagoya. The price would not increase when the scrap export transaction slows. The dealers’ purchase price was around 26,000 yen per tonne for H2 grade around Osaka last week. Market sources expected local electric furnaces steel makers could increase the scrap purchase before three-day weekends from Friday. However, a dealer source said only a few electric furnaces increased the purchase price at spot basis when they built up the inventory. One dealer source sees the scrap price could get stable when Kishiwada Steel started maintenance outage in the week.
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