Higher Japan Ferrous Scrap Price

Some of Japanese ferrous scrap price exceeded 35,000 yen per tonne for H2 at electric furnace steel makers’ purchase price around Tokyo and Osaka. The price reached 33,000-35,000 yen, which is 1,000-2,000 yen higher than previous week and higher than around 32,000 yen in late August, due to higher export price.

The electric furnace steel makers’ purchase price reached 34,000-35,500 yen per tonne for H2 grade scrap around Tokyo. Tokyo Steel Manufacturing increased the purchase price by 1,000 yen on Tuesday. Higher export price to Asian buyers lifted the domestic market price along with tight domestic supply.

The electric furnace steel makers’ purchase price reached 33,000-35,000 yen per tonne for H2 grade scrap around Osaka. Kishiwada Steel, Yamato Steel and JFE Bars & Shapes increased the purchase price on Tuesday.