Firm Ferrous Scrap Price in Osaka

Ferrous scrap market price is increasing around Osaka. Local electric furnace steel makers’ scrap purchase price is 10,000-12,000 yen per tonne for H2 grade. The price is likely to keep firm when the market expects better supply balance.

Local steel makers increased the scrap purchase price last week. However, some dealers are still skeptic against positive outlook citing slow demand while the low level supply including yard dealers’ inventory impacts on the supply for steel makers.

Ferrous scrap market price is flat at around 9,100 yen per tonne for pressed new cutting scrap and at around 8,100 yen per tonne for new cutting grade without press at dealers’ purchase price including freight around Tokyo.