Ferrous Scrap Price Rises in Osaka

Ferrous scrap market price around increased around Osaka following around Tokyo when Tokyo Steel Manufacturing, Japanese biggest electric furnace maker, raised the purchasing price or dealers’ shipping decreased rapidly due to anticipation of market price rise against increased overseas market price. Electric furnace steel makers around Osaka increased the ferrous scrap purchase price to 41,500-43,000 yen per tonne by 1,000 yen for H2 grade from the beginning of this month. Kishiwada Steel increased the price by 2,000 yen for turning scrap and by 1,000 yen for other scrap. Some makers increased the price, too.The makers around Himeji, Hyogo increased the price after Tokyo Steel’s price hike in Friday. Yamato Steel’s purchase price increased to 45,500 yen per tonne for H2.Japanese ferrous scrap export price hit record FAS 44,100 yen per tonne for H2 in shipping from Osaka bay in average at monthly scrap export tender held by Kansai Tetsugen Rengokai on Tuesday.The expansion of using volume for ferrous scrap by Japanese integrated steel makers is making impact to ferrous scrap market price. High grade scrap price such as HS used integrated steel makers pierced 50,000 yen per tonne.The higher price was apparently caused by aggressive appetite by South Korean buyers due to unsmooth scrap delivery from USA and Russia.