Japanese ferrous scrap market price continues rising to 30,000-32,000 yen per tonne for H2 and as high as 32,500 yen. The price has increased by 2,000-3,000 yen per tonne within August due to export price upsurge and scrap supply shortage.Electric furnace steel makers around Tokyo purchase H2 at 31,000-32,000 yen and some pay as high as 32,500 yen. The purchase price upped by 500 yen this week and by 3,000 yen in August. Electric furnaces including Tokyo Steel are gradually raising the purchase but their purchase volume doesn’t increase when export price is also rising at Tokyo Bay. In Himeji area of West Japan, Yamato Steel, Himeji Works of JFE Bards & Shapes and Himeji Works of Godo Steel raised their purchase price by 1,000 yen on Wednesday. In Osaka, Kishiwada Steel raised the purchase price by 1,000 yen except for turning scrap while Sakai and Okajima Works of Osaka Steel increased the price by 2,000 yen. Electric furnaces around Osaka presently pay around 30,000 yen per tonne for H2 and some pay as high as 32,000-33,000 yen. On the other hand, dealers around Osaka Bay actively procure ferrous scrap. A dealer source said dealers’ purchase price is higher than local electric furnaces’ not only for high grade scrap but for low-middle grade scrap such as H2.
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