Japan Ferrous Scrap Usage Drops by 2% in July

Japanese ferrous scrap consumption decreased by 2% to 4.216 million tonnes including use at converters, electric furnaces and castings in July from 4.325 million tonnes in June, according to Japan Ferrous Raw Materials Association. The converters’ scrap consumption increased by 2% to 955,000 tonnes in July from 931,000 tonnes in June. The scrap usage rate was 11.8% in July compared with 12% in June. The electric furnaces’ consumption decreased by 4% to 2.572 million tonnes in July from 2.699 million tonnes in June. The scrap use rate was 96.8% in July from 97.2% in June. The scrap consumption by castings and other industry decreased by 2% to 579,000 tonnes in July from 596,000 tonnes in June. The scrap supply decreased by 5% to 4.267 million tonnes in July from 4.509 million tonnes in June. The scrap supply from steel plants decreased by 2% to 1.225 million tonnes in July from 1.249 million tonnes in June while the supply from market including import decreased by 6% to 3.042 million tonnes in July from 3.259 million tonnes in June.