Japan Steel Scrap Composite Price Increases Again

Japan Steel Scrap Composite Prices, which are averaged ferrous scrap market prices in Tokyo, Nagoya and Osaka, increased for 3 weeks in a row thorough last week. The price increased by 2,100 yen to 22,900 yen per tonne for H2 grade and to 26,100 yen for new cutting press at the dealers’ purchase price including freight.

Local dealers’ ferrous scrap purchase price is around 25,000 yen per tonne for H2 grade around Tokyo, which is 2,000 yen higher than a week earlier level. Local electric furnace steel makers are increasing the purchase price to secure the scrap. The scrap supply remains tight while the shipping for export is steady around Tokyo bay.

Local dealers’ scrap purchase price is 20,800 yen per tonne for H2 grade around Nagoya, which is 1,000 yen higher than a week earlier level. Tokyo Steel Manufacturing increased the scrap purchase price at Tahara plant late last week and some makers followed the move. The scrap exporters cannot increase the purchase price to follow the makers when the export price is unchanged. The price increase would slow around Nagoya. Local dealers’ scrap purchase price is around 23,000 yen for Osaka.