Nippon Steel Resumes Ferrous Scrap Purchase in Nagoya

Nippon Steel will resume the purchase of ferrous scrap in Nagoya iron works from July. The purchase volume is expected to be 4,000-5,000 tonnes per month.

The purchase volume was zero for April-June. The firm only consumed generated ferrous scrap in the works for April-June. The works will restart ferrous scrap procurement from outside suppliers at 5,000-6,000 tonnes at the works in July when the works’ inventory adjustment progressed. The purchase volume of ferrous scrap in the works and from the market is expected to be about 10,000 tonnes for July-August.

The works has purchased ferrous scrap at around 90,000 tonnes per month from the market at a peak period but reduced the purchase and usage volume of ferrous scrap largely when steel demand dropped after last autumn.