Flat Japan Steel Scrap Composite Price

Japan Steel Scrap Composite Price was flat in first week of December as last week. The price is 16,100 yen per tonne for H2 and 19,600 yen for new cutting scrap. The dealers’ scrap purchase price stays the level when domestic electric furnace steel makers keep the scrap purchase price.

The dealers’ scrap purchase price is around 18,000 yen per tonne for H2 around Tokyo. The dealers’ inventory is still low level due to low level scrap generation. The lower supply and higher export shipping contribute to balanced supply while local electric furnace steel makers keep low level consumption under very slow steel demand.

The dealers’ purchase price is 14,300 yen per tonne for H2 around Nagoya and around 16,000 yen around Osaka. Steel makers around Nagoya reduced the heavy scrap purchase price while integrated steel makers increase the high grade scrap including new cutting grade. Steel makers around Osaka try to reduce the scrap purchase price but the higher export price supports the market price.