Ferrous scrap market price decreased in Tokyo and Osaka for 4 weeks in a row. The scrap export price continues decreasing for East Asia. Many electric furnace steel makers reduced the scrap purchase price after Tokyo Steel Manufacturing reduced the price.
Local electric furnaces’ ferrous scrap purchase price decreased to 29,000-30,000 yen per tonne for H2 grade around Tokyo and some makers pay around 31,000 yen. The local electric furnaces including Tokyo Steel’s Utsunomiya plant reduced the price by 500 yen on Thursday The exporter’s purchase price decreased to around FAS 28,000 yen for H2 grade around Tokyo bay due to slow export transaction. Japanese trading firm source sees the offshore users’ bid remains low. Local electric furnaces’ purchase price is around 30,500-31,500 yen for H2 grade around Osaka and some makers pay around 32,000 yen. One dealer source sees the dealers would not build up the scrap inventory due to the expectation for lower price.Japan Steel Scrap Composite Prices (Sangyo Press)
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