Makers’ ferrous Scrap Purchase Price Decreases by 3,000 y/t around Osaka

Electric furnace steel makers around Osaka reduced the purchase price of ferrous scrap by 3,000 yen to 54,000-55,000 yen per tonne for H2 grade. The price decreased by 18,250 yen per tonne by 25% from peak price. The price decreased around Osaka more than other area when each maker’s purchase volume increased after the middle of July. Kanto Tetsugen’s monthly ferrous scrap export tender price on Tuesday fell below domestic market price.Most makers will stop the purchase of ferrous scrap in Bon holiday around Tokyo. Maker source said ferrous scrap market price is likely to more decrease after Bon holiday in this week due to decreased export price.