Japan Ferrous Scrap Demand Rises by 6.4% in F2007

Japanese ferrous scrap consumption increased by 6.4% to 53.346 million tonnes including uses in converter, electric furnace and casting in fiscal 2007 ended March 2008 from previous year. The consumption increased for 6 years in a row with higher raw steel output. The domestic scrap demand increases with higher cost for steel making including iron ore and coking and higher demand for lower carbon dioxide emission. The integrated steel makers including Nippon Steel and JFE Steel increase the scrap consumption a part of actions for environmental friendly operations. The converter increased the scrap consumption by 12.9% to 12.94 million tonnes in fiscal 2007 from fiscal 2006, according to Japan Ferrous Raw Materials Association. The consumption increased by 1.2% to 32.189 million tonnes by electric furnace and by 1.7% to 6.981 million tonnes by casting. The supply increased by 4.1% to 54.026 million tonnes in fiscal 2007 from fiscal 2006. The supply increased by 4.7% to 15.785 million tonnes in steel makers and by 3.9% to 38.241 million tonnes in the market.