Japan Steel Scrap Composite Price Stays for 2 Consecutive Weeks

Japan Steel Scrap Composite price, which is averaged purchase price by scrap dealers in Tokyo, Osaka and Nagoya, was flat at 22,900 yen per tonne for H2 grade and 27,800 yen for pressed new cutting scrap in 4th week of September. The price kept the level for 2 weeks in a row.

The dealers’ scrap purchase price was flat at around 26,000 yen per tonne for H2 grade around Tokyo last week. Local electric furnace steel makers’ purchase price was 31,000-32,000 yen for H2 grade and the higher price is 32,500 yen.

The dealers’ purchase price was 19,800 yen for H2 grade around Nagoya last week. Local electric furnaces’ purchase price was around 30,000 yen for H2 grade.

The dealers’ purchase price was also flat at around 23,000 yen per tonne for H2 grade around Osaka last week. Local electric furnaces’ purchase price was 31,000-32,000 yen.

The dealers in Tokyo and Osaka keep the scrap purchase price expecting the supply and demand are balanced due to the export to Asia. On the other hand, the dealers around Nagoya are concerned about the market price decline when local electric furnaces could follow the price reduction by integrated steel maker in last week.