Ferrous Scrap Price Rises by 1,000 yen/t in Osaka

Ferrous scrap market price increased by 1,000 yen per tonne around Osaka. Local electric furnace steel makers’ purchase price increased to 57,500-58,500 yen for H2 grade. Some makers increased the price level to secure inventory when they plan to increase the operation during major holiday from end April to early May due to the lower electricity cost. The makers increased the scrap purchase price level last week and Kishiwada Steel increased the price by 1,500 yen per tonne on Saturday. Local scrap supply is expected to keep tight through the holiday when local electric furnace steel makers keep high level production and integrated steel makers keep the strong appetite.