Japan Scrap Price Rises by 500-1,000 yen/t

Japanese ferrous scrap market price increased by 500-1,000 yen to 26,000-27,500 yen per tonne for H2 at purchase price by electric furnace steel makers in the week. Some makers pay more to secure the material under low level scrap generation and higher export price. The dealers expect domestic makers could increase the price more when they plan to increase the production under tight supply while the makers plan summer time maintenance outage.

Electric furnace steel makers around Tokyo pay 26,500-28,000 yen per tonne for H2 grade, which is 500-1,000 yen higher than last week level. They follow the market trend when scrap export price from Tokyo bay increased by 500-1,000 yen.

Electric furnace steel makers pay 25,500-27,000 yen per tonne for H2 and some makers pay more around Osaka. Kishiwada Steel increased the purchase price by 1,000 yen for H1 and by 700 yen for other grades for purchase from July 29 to August 1. Yamato Steel and Sanyo Special Steel increased the purchase price by 1,000 yen from July 29.