Japan Steel Scrap Composite Price Decreases Again

Japan Steel Scrap Composite Price, which is the dealers’ averaged ferrous scrap price in Tokyo, Nagoya and Osaka, decreased for 4 weeks in a row through last week. The price decreased by 800 yen to 22,100 yen per tonne for H2 grade and by 1,000 yen to 25,100 yen for new cutting press.

Local dealers’ purchase price is around 22,500 yen per tonne for H2 grade around Tokyo, which is 1,500 yen lower than a week earlier level. Local electric furnace steel makers pay 29,000-30,000 yen for H2 grade. The export price is low at FAS 28,000 yen for H2 grade from Tokyo bay. Market sources see the scrap market price could decrease more.

Local dealers’ purchase price is 19,800 yen per tonne for H2 grade around Nagoya, which is 2,500 yen lower than a week earlier level. Local electric furnaces’ purchase price is around 30,000 yen for H2 grade.

Local dealers’ purchase price is around 22,000 yen per tonne for H2 grade around Osaka. Under weak offshore market price, local electric furnaces reduced the purchase price when Tokyo Steel Manufacturing reduced the price.