Japan Ferrous Scrap Export Price Increases to South Korea

Japanese contracted ferrous scrap export price continued to rise at FOB 31,200 yen per tonne for H2 at 30,000 tonnes to Dongkuk Steel, South Korean steel maker, according to Japanese large dealer source. The export price increased by 4,000 yen per tonne from October.

Dongkuk Steel offered purchasing price at around 31,000 yen per tonne to Japanese dealers, while Japanese dealers increased offer price to over 32,000 yen. Large dealer source said dealers increased offer price when yen rate increasing. South Korean steel makers started purchase of American ferrous scrap when Japanese offer price increased.

Ferrous scrap market price is strong at 26,000 yen for H2, 27800 yen for H1 and 29,500 yen for HS with dealers’ purchase price around Tokyo. Local electric furnace makers’ purchase price increased by 1,500 yen to 31,000-32,000 yen and some pay as high as 32,500 yen.

Most dealers raised purchasing price of ferrous scrap at ended last week when makers’ purchasing price increased due to dealers’ low shipping to steel makers.

Ferrous scrap market price is 23,500 yen per tonne for H2 around Osaka,. Steel makers’ purchasing price is 30,000-31,500 yen per tonne for H2 and some pay as high as over 31,500 yen.