Japanese ferrous scrap dealers increase the supply to local electric furnace steel makers in Tokyo and Nagoya when the electric furnaces’ scrap purchasing price is higher than the export price to East Asia. When Tokyo Steel’s selling price hike is lower than expected, dealers increase the supply to domestic electric furnaces, one trade firm source said. On the other hand, the supply of heavy scrap including H2 grade is tight in Osaka and Nagoya.The electric furnaces’ scrap purchasing price increased by 500 yen to 31,000-32,500 yen per tonne for H2 grade in Tokyo from last week, which is higher than the export price. Some electric furnaces plan to stop spot purchase and individual purchase pricing. The supply of heavy scrap remains tight in Nagoya. However, new cutting and turning scrap purchase of electric furnaces and integrated steel makers decrease. Some dealers increase the shipment to Osaka. Electric furnaces’ scrap purchase price is 30,000-31,500 yen per tonne for H2 grade. The demand would level off around this week end when Kishiwada Steel stops the electric furnace due to maintenance.
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