Marginal Higher Japan Ferrous Scrap Price

Japanese ferrous scrap market price keeps firm despite of the weakening export market. The domestic priced increased slightly in Tokyo while the price is peaking in Osaka. Local electric furnace steel makers pay 37,500-40,000 yen per tonne for H2 grade scrap, which is 500-1,000 yen higher than the price in the beginning of the month.

Electric furnace steel makers’ scrap purchase price is 37,000-39,000 yen per tonne for H2 grade, which is 500 yen higher than last week level. Local makers increased the price one after another since last week when the supply gets tighter.

Japanese scrap export price is FOB 38,000-38,500 yen per tonne for H2 grade, which keeps the level for a week. However, the FAS price reached almost the level of local steel makers’ purchase price when local exporters increase the scrap purchase price to secure the scrap.

Electric furnace steel makers’ scrap purchase price keeps 38,500-40,000 yen per tonne for H2 grade. Tokyo Steel Manufacturing increased the purchase price on Wednesday. A trader source said the dealers would reduce the shipment to other makers while Yamato Steel and JFE Bars & Shapes increased the scrap purchase price on Wednesday.