Japan Steel Scrap Composite Price Hits First Drop in 7 Weeks

Japan Steel Scrap Composite Prices, which are averaged ferrous scrap market price in Tokyo, Nagoya and Osaka, decreased by 300 yen to 27,600 yen per tonne for H2 grade at the dealers’ purchase price including freight last week from previous week. The price decreased by 700 yen to 31,800 yen for new cutting press. The prices decreased for the first time in 7 weeks.

The dealers’ scrap purchase price decreased by 500 yen to around 29,000 yen per tonne around Tokyo last week from previous week. Local electric furnace steel makers’ purchase price decreased by 500 yen to 34,500-35,500 yen.

The dealers’ scrap purchase price was unchanged at 26,300 yen per tonne for H2 grade around Nagoya last week from previous week. Local electric furnaces’ purchase price was flat at 36,500-37,000 yen for H2 grade while their purchase price decreased to 41,500 yen for new cutting press. The price would decrease more due to output reduction by local 2 special steel makers.

The dealers’ scrap purchase price decreased by 500 yen to around 27,500 yen per tonne for H2 grade around Osaka last week from previous week. Kishiwada Steel reduced the purchase price and Godo Steel reduced the price at plant in Osaka to follow the price cut by Tokyo Steel Manufacturing. One dealer source sees the price remains weak due to maintenance outage and slow export transaction.