Flat Japan Steel Scrap Composite Price

Japan Steel Scrap Composite Prices, those which are averaged prices in Tokyo, Osaka and Nagoya, leveled off at 23,300 yen per tonne for H2 grade and 26,500 yen per tonne for new cutting grade last week. The Prices was unchanged for the first time in four weeks after continuous decline.

Around Tokyo, the dealers’ purchase prices decreased by 1,000 yen to around 23,500 yen per tonne for H2 grade from the previous week. Local electric furnace steel makers pay 32,000-33,000 yen as of Monday. The dealers reduced the purchase for export and shipping to West Japan from Tokyo. The low demand reduced the local market price. Some dealers told the weak mood would remain though joint export price was same as local electric furnaces’ purchase price at Kanto Tetsugen’s monthly tender.

Around Nagoya, the dealers’ purchasing price decreased by 1,000 yen to 21,800 yen for H2 grade. Local electric furnaces pay 32,000-32,500 yen for H2 grade. The makers reduced the purchase price for the first time in seven weeks. The price could test lower price additionally. The dealers around Osaka purchase H2 grade at around 22,500 yen. Local electric furnaces reduced the scrap purchase price by 500 yen to 32,000-33,500 yen for H2 grade. Some dealers expect the price could hit bottom soon under tight supply for some grades of scrap.