Japanese Steel Scrap Composite Price Slightly Increases

Japan Steel Scrap Composite Prices, which are averaged ferrous scrap market price in Tokyo, Nagoya and Osaka, increased by 200 yen per tonne for H2 grade and new cutting scrap as of July 8 from the previous week The prices were 27,800 yen per tonne (US$ 337.75) for H2 and 32,300 yen per tonne (US$ 392.42) for new cutting scrap.

Around Tokyo, the market price upped by 500 yen to around 29,000 yen for H2. Local electric furnace steel makers raised their purchasing price for H2 by 500 yen to 34,500-35,500 yen and some paid as high as 36,000-37,000 yen. The electric furnaces’ purchasing price increased slightly for 2 weeks in a row. Local scrap dealers followed the price hike and raised their purchasing price. One dealer source said the supply is tightening due to low scrap generation.

Around Nagoya, the market price kept flat at 26,300 yen per tonne for H2. Local steel makers’ purchase price is 36,500-37,000 yen for H2 and some pay as high as 42,000 yen. Tahara works of Tokyo Steel Manufacturing is continuing to raise the scrap purchasing price. However, the supply and demand is loosening for new cutting scrap when scrap generation is increasing from manufacturing factories along car production recovery.

Around Osaka, the market price is around 28,000 yen per tonne for H2. Tokyo Steel raised the purchasing price by 500-1,000 yen at the all factories on Saturday. Yamato Steel and JFE Bars & Shapes’ Himeji works raised the purchasing prices, too. Other local steel makers passed the price hike.