Japans 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).
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 nations 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
A version of this
article was first published by AMM sister publication Steel