Ferrous scrap market price decreased to less than 30,000 yen per tonne for H2 grade at electric furnace steel makers’ purchase price around Tokyo. The price also decreased to less than 30,000 yen for some makers around Osaka. The price is the lowest level since February under slow export market.Electric furnace steel makers around Tokyo pay 29,000-30,000 yen per tonne for H2 grade scrap. Local makers including Utsunomiya plant of Tokyo Steel Manufacturing reduced the price by 500-1,000 yen on Tuesday. Exporters around Tokyo bay offer around FAS 29,500 yen per tonne to secure the scrap. The lower price for export encouraged the dealers to ship for local steel makers. The steel makers reduce the scrap purchase volume and a dealer source said some makers reduce the scrap purchase volume to around 60%. Electric furnace steel makers pay 29,500-30,500 yen per tonne for H2 grade scrap around Osaka. Tokyo Steel’s local plant and other makers reduced the scrap price by around 1,000 yen on Tuesday.
Japan Steel Scrap Composite Prices (Sangyo Press)09/28/2023
|50400YEN (-)||52000YEN (-)|
|334.55US$ (-1.27)||345.17US$ (-1.31)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)