Ferrous Scrap Price is Increasing around Osaka

Ferrous scrap market price is increasing around Osaka. Local electric furnace makers’ purchase price increased to 35,500-36,500 yen per tonne by 250 yen or 1% for H2 grade from last week. Export price and the purchase price by Tokyo Steel Manufacturing or makers around Himeji area increased by 2,000-2,500 yen per tonne. These prices are making influence to the market price around Osaka.Makers’ purchasing became hard due to increased market price such as increased overseas market price. Makers are accelerating incoming ferrous scrap by increased purchasing price.Nakayama Steel works will reduce the purchasing volume for long time furnace repairing for about 2 months. Dealer source ferrous scrap doesn’t left by next export.Makers carry out scheduled output cut in summer due to increased electricity rate. Dealer source said makers’ purchasing price hike would be temporary when makers reduce the purchasing volume in summer.