Japan Steel Scrap Composite Price Declines for 3 Straight Weeks

Japan Steel Scrap Composite Price, which is averaged purchase price by scrap dealers in Tokyo, Osaka and Nagoya, declined for 3 weeks in a row through last week. The price declined by 1,400 yen to 20,400 yen per tonne for H2 grade during the week.

The dealers’ purchase price declined by 2,500 yen to around 23,000 yen per tonne for H2 grade around Tokyo last week from the beginning of October. The averaged export price at the joint tender held by the dealers group around Tokyo on Wednesday was low as FAS 27,350 yen for H2 grade while local electric furnaces steel makers’ purchase price is 28,000-29,000 yen.

The dealers’ purchase price around Nagoya was 17,300 yen per tonne for H2 grade last week. The demand decreases due to the outage of local special steel makers and decline in purchase volume of integrated steel makers.

The dealers’ purchase price around Osaka was 21,000 yen per tonne for H2 grade last week. The dealers experience hard time for pricing due to the decrease in local electric furnaces’ purchase volume.