Japan Steel Scrap Composite Price Increases by 200 yen/t

Japan Steel Scrap Composite Prices, which are averaged ferrous scrap market price in Tokyo, Nagoya and Osaka, increased by 200 yen to 27,600 yen per tonne for H2 grade at the dealers’ purchase price including freight last week. The price was unchanged at 32,100 yen for new cutting press. The price was US$ 337.20 for H2 grade and US$ 392.18 for new cutting press, which was calculated based on 81.85 yen per US dollar of telegraphic transfer selling rate.

The dealers’ scrap purchase price increased by 500 yen to around 28,500 yen per tonne for H2 grade around Tokyo last week. Local electric furnace steel makers’ purchase price increased by 500 yen to 34,000-35,000 yen and some makers pay 35,500-36,000 yen. The dealers increased the purchase price for the first time in about a month to follow the price hike by local electric furnaces.

The dealers’ purchase price is flat at 26,300 yen per tonne around Nagoya and at around 28,000 yen for H2 grade around Osaka as last week.