Japan Steel Scrap Composite Prices Rebounds

Japan Steel Scrap Composite Prices increased for the first time since December 2011. The price increased by 800 yen to 20,400 yen per tonne for H2 grade and to 23,600 yen for new cutting press grade last week from previous week at the dealers’ purchase price in Tokyo, Osaka and Nagoya.

The dealers’ purchase price increased by 1,000 yen to around 22,000 yen per tonne around Tokyo last week from previous week. Local electric furnace steel makers pay 30,000-31,500 yen for H2 grade scrap. Tokyo Steel Manufacturing raised the purchase price by each 500 yen on February 14 and 18 at Utsunomiya plant. Local supply gets tighter especially around Tokyo bay when the export demand is firm.

The dealers’ purchase price increased by 500 yen to 19,300 yen per tonne for H2 grade around Nagoya. Local electric furnace steel makers pay around 31,000 yen for H2 grade scrap. The supply for the steel makers is still slow despite of their higher purchase price when the market expects higher scrap price.

The dealers’ purchase price was around 21,000 yen per tonne for H2 grade around Osaka. Yamato Steel and other local makers followed Tokyo Steel’s scrap purchase price increase.