Ferrous Scrap Price Keeps Drop in Tokyo, Osaka

Many Japanese electric furnace steel makers’ ferrous scrap purchase price decreased to less than 10,000 yen per tonne for H2 grade nationwide. The price decreases when domestic carbon steel makers reduce the output volume and the export keeps slump. Some scrap suppliers get nothing or even pay for scrap disposal to scrap dealers depending on the grades.

Electric furnace steel makers’ scrap purchase price is expected to decrease to less than 10,000 yen per tonne for H2 grade around Tokyo. Tokyo Steel Manufacturing reduced the purchase price by 2,000 yen at Utsunomiya plant on Friday and other makers followed the move. The price is 10,000-11,500 yen level and some makers pay only less than 10,000 yen.

Electric furnace steels around Osaka also reduced the purchase price by 2,000 yen to 9,500-10,500 yen per tonne on Friday. Most of the makers reduce the purchase volume or stop the purchase under output reduction. Scrap dealers pay nothing or seek some disposal charge for some grades including pail and 18 litters can, waste bicycle, desk with rubber and plastic when lower grade scrap demand is very slow.