Demand of Ferrous scrap in Octoer-December 2013 to be 9.27 Million Tons

Demand of ferrous scrap in Octoer-December 2013 is expected to increase because of rising construction steel stocks output. According to Oct-Dec steel demand estimate Ministry of Economy, Trade and Industry announced on October 1st, demand of crude steel was 27.97 million tons. Yield ratio of steel making (crude steel output/steel material consumption) is 91.6%, and of which 30.4% is ferrous scrap consumption estimated from the document in May-July by Japan Ferrous Raw Materials Association. When the ratio plug the crude steel demand estimate, ferrous scrap consumption for converter steel and electric furnaces steel is expected to be around 9.27 million tons, it is increasing from around 9.15 million tons which is the previous year result.