Japan Steel Scrap Composite Price Hits First Increase in 3-Week

Japan Steel Scrap Composite Prices, which are averaged price in Tokyo, Nagoya and Osaka, increased for the first time in 3 weeks. The price increased by 300 yen to 22,900 yen per tonne for H2 grade and to 26,100 yen for new cutting press at the dealers’ purchase price last week.

Local dealers’ ferrous scrap purchase price increased by 500 yen to around 24,000 yen per tonne for H2 grade around Tokyo last week from the previous week. The local electric furnace steel makers increased the purchase price by 500 yen to 32,500-33,500 yen for H2 grade on Thursday. The makers try to secure the scrap under higher shipping volume for the export.

Local dealers’ ferrous scrap purchase price kept 21,800 yen per tonne for H2 grade around Nagoya last week as previous week. The dealers reduce the shipment for local makers with expectation for price increase under higher exporters’ purchase price.

Local dealers’ ferrous scrap purchase price is around 23,000 yen per tonne for H2 grade around Osaka. Tokyo Steel Manufacturing increased the purchase price on Thursday for the first time in a month. Local electric makers followed the move.