Japan Ferrous Scrap Price Hits First Increase in 1 Month

Japanese ferrous scrap exporters’ scrap purchase price increased around Tokyo bay. The price decreased for more than a month due to weak export price. The price is around FAS 26,000-26,500 yen per tonne for H2 grade at local exporters, which is 500-1,000 yen higher than a week earlier level. Some exporters pay 27,000 yen. The price increased by 500 yen to 28,500 yen for new cutting grade and HS grade.

Main importers of Japanese ferrous scrap, South Korean steel makers show sign to increase the price for Japanese scrap since last week. Japanese averaged export price hit FAS 27,591 yen per tonne for H2 grade at the joint tender held by Kanto Tetsugen on Wednesday, which was higher than local steel makers’ purchase price. Under the trend, local scrap exporters increase the purchase price recently.

Local electric furnace steel makers’ ferrous scrap purchase price is 26,000-27,000 yen per tonne for H2 grade including freight, which is same level as the exporters’ purchase price.