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Japan’s scrap prices resume upward trek

Keywords: Tags  Japan scrap, scrap prices, heavy melt, ferrous scrap, Japan Ferrous Raw Materials Association


TOKYO — Japan’s domestic scrap prices rallied in the last week of September after falling the previous week.

The national average price paid by mini-mills for H2-grade scrap (a mix of No. 1 and No. 2 heavy melt) rose 305 yen ($3) per tonne to 32,951 yen ($335) per tonne, led by an increase of 666 yen ($7) per tonne in the Kanto area around Tokyo, according to the Japan Ferrous Raw Materials Association.

This put prices at the highest level since mid-March. Prices had fallen during the previous week for the first time since early August after Tokyo Steel Manufacturing Co. Ltd. unexpectedly cut its scrap purchase prices ( amm.com, Sept. 25).

Meanwhile, export prices have continued to rise, with Hyundai Steel Co. Ltd. last week raising prices for Japanese scrap to above 33,000 yen ($336) per tonne f.a.s.

The steady increase in prices being paid by South Korean mini-mills for Japanese scrap comes despite falling volumes, with the nation’s imports of Japanese scrap posting a fourth month of year-on-year declines in August to 338,000 tonnes. However, the tally was up 8,000 tonnes from July levels.

A version of this article was first published by AMM sister publication Steel First.


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