The decline in steel scrap prices in Kanto area has not stopped.
The purchase price of H2 for electric furnaces dropped by 2,000 yen per ton in the 10 days to December 21, and is 4,500 yen per ton lower than the recent high price (as of November 10).
The number of shipments decreased toward the end of the year and shipments to electric furnace makers increased, loosening the supply and demand in the entire region.The fact that Kanto Electric Furnace’s planned production volume for this month is lower than the previous month has also had an effect.
The Utsunomiya plant of Tokyo Steel, a major electric furnace manufacturer, lowered the purchase price of steel scrap by 500 yen per ton on December 16, and other electric furnaces and shippers followed suit. After that, Tokyo Steel Utsunomiya is keeping a wait-and-see attitude until the 21st, but other consumers are making scattered moves to further reduce their purchase prices by 500-1000 yen per ton from the 17th to the 21st.