Japanese ferrous scrap consumption increased by 5.1% to 2.269 million tonnes in March from February, including use at converters, electric furnaces and castings, according to Japan Ferrous Raw Materials Association. The consumption kept low when steel makers continued production cut due to slow demand.
The converters’ scrap consumption increased by 12.7% to 548,000 tonnes in March from February. The electric furnaces’ consumption decreased by 1.0% to 1.34 million tonnes. The scrap consumption for castings and other industries increased by 11.0% to 301,000 tonnes. Domestic steel makers continue output reductions since last autumn. Consequently, the demand for ferrous scrap is falling. Japanese ferrous scrap consumption has been below 3 million tonnes since December 2008. The scrap supply decreased by 0.6% to 2.305 million tonnes in March from February, which decreased for 5 consecutive months. The scrap supplies from steel plants increased by 6.9% to 846,000 tonnes while the supply from market including import decreased by 4.5% to 1.459 million tonnes.Japan Steel Scrap Composite Prices (Sangyo Press)
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