Japan Steel Scrap Composite Price Continues Increase

Japan Steel Scrap Composite Prices, which are averaged ferrous scrap market price in Tokyo, Nagoya and Osaka, increased for 4 weeks in a row through last week. The price increased by 400 yen to 23,300 yen per tonne for H2 grade and to 26,500 yen for new cutting press at the dealers’ purchase price including freight.

Local dealers’ ferrous scrap purchase price is around 25,000 yen per tonne for H2 grade, which is same as a week earlier level. The price increase slowed while the price increased since the beginning of December. Local electric furnace steel makers keep the scrap purchase price and the dealers watch market trend. One trading firm source sees the export for South Korea slows in volume and price.

Local dealers’ scrap purchase price is around 21,800 yen per tonne for H2 grade around Nagoya, which is 1,000 yen higher than a week earlier level. Local dealers’ scrap purchase price is around 23,000 yen for H2 grade around Osaka. Kishiwada Steel reduced the scrap purchase price by 500 yen for H1 grade. Some local electric furnaces could reduce the scrap price in the month.