Osaka based major electric furnace steel maker, Osaka Steel increases ferrous scrap purchase price by 1,500 yen per tonne for new cutting scrap for two plants in Osaka on Wednesday. The firm increases the price by 1,000 yen for all other grades except for L2 grade. The firm leaves the price for L2 grade unchanged. The move is the first purchase price increases in around 2.5 months for electric furnace steel makers around Osaka.Local electric furnace steel makers’ scrap purchase price is 26,000-27,000 yen per tonne for H2 grade around Osaka. One dealer source sees the market price would not increase while Osaka Steel increases the scrap purchase price. But the source sees the price increase move would impact on the recent decreasing trend. Local steel makers around Tokyo pay 25,500-26,500 yen per tonne for H2 grade scrap. The market price is flat under thin trading. Some of ferrous scrap exporters try to increase the purchase volume around Tokyo bay to prepare for large volume export shipping in the week.
Japan Steel Scrap Composite Prices (Sangyo Press)07/02/2020
|23300YEN (-500)||25300YEN (-500)|
|214.77US$ (-3.34)||233.2US$ (-3.24)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)