Ferrous Scrap Price Increases in 6 Straight Weeks in Osaka

Ferrous scrap market price increased for 6 weeks in a row around Osaka. The purchase price by local electric arc furnace steel makers increased by 750 yen to 37,500-39,000 yen per tonne for H2 grade last week from the previous week. Godo Steel increased the price by 1,000 yen from Friday arrival at Osaka plant while Osaka Steel increased the price by 500 yen at headquarters plant and Sakai plant and Kishiwada Steel increased the price by 500 yen at headquarters plant. Some other makers pay higher price.

Ferrous scrap supply increased around three-day weekend from 20 to 22 March. The supply seemed to increase the before monthly closing. However, the dealers reduced the supply in April when Tokyo Steel Manufacturing increased the purchase price, according to a trade firm source.

Electric furnaces would increase scrap purchase volume before a week long holidays from the end of April to early May. With the higher demand, the scrap supply would keep tight, according to the dealer sources.