Japanese ferrous scrap composite price is 16,300 yen per tonne for H2 grade and 19,600 yen per tonne for new cutting scrap with press which kept the level as same as the previous week, according to Japan Metal Bulletin’s survey data. The price became higher by US$ 0.35 to US$ 168.37 per tonne for H2 and by US$ 0.42 to US$ 202.46 per tonne for new cutting scrap with press, based on the telegraphic transfer selling rate at 96.81 yen per US dollar. The composite price is the averaged market price of Tokyo, Osaka and Nagoya.
Electric furnace steel makers in Tokyo, Osaka and Nagoya are purchasing H2 at around 24,000-26,000 yen per tonne. The domestic price partially exceeds the export price when special steel makers eased their output reductions and integrated steel makers resumed ferrous scrap procurement. Around Tokyo, ferrous scrap export price rebounded last week thanks to Hyundai Steel’s orders and Tokyo Steel Manufacturing’s price hike. Scrap generation from demolitions and plants maintains low. A scrap dealer said scrap arrival volume keeps 30-40% lower level every month than a year earlier. Ferrous scrap market price is currently higher than the export price around Nagoya where special steel makers are mainly raising the purchase price along their output recovery. Export orders maintain active for H2 and HS1 from East Asia. Meanwhile, scrap dealers are in severe competition to secure ferrous scrap. In Hamamatsu area, motorcycle makers’ operations still stays 20% level though scrap generation is gradually recovering from car related plants. Scrap generation also keeps stagnant in Osaka. Demolition works are slow with few new construction starts. As to plant scrap, generation volume is more than halving, according to a scrap dealer source. However, local demand for ferrous scrap is more declining. Tokyo Steel Manufacturing has raised the scrap purchasing price twice but only 3 electric furnaces in Himeji area followed the movement.M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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