Ferrous scrap price in Osaka is in a correction phase. A sense of anticipation for high prices is withering, and the market is increasing shipments to makers, on the background that ferrous scrap purchasing price by local electric furnaces steel manufactures reached to 40000 yen per tonne at high price and new ferrous scrap export price for Korea is lower than domestic price. Some electric furnaces steel makers decided to decrease purchasing price for the first time in around 5 months since July.
Japan Steel Scrap Composite Prices (Sangyo Press)08/06/2020
|22600YEN (-)||24700YEN (-)|
|212.19US$ (0.2)||231.9US$ (0.21)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)