scrap prices have fallen again as the market struggles to cope
with recent increases.
The national average
price being paid for H2-grade scrap (a mix of No. 1 and No. 2
heavy melt) over the past week was ¥32,707 ($338) per
tonne, according to the Japan Ferrous Raw Materials
Association. Thats down ¥244 ($2.52) per tonne from
the previous weeks average.
The average price paid
in the Kanto area around Tokyo declined ¥333 ($3.44) per
tonne to ¥34,000 ($351) per tonne, while those being paid
around the industrial heartland of Nagoya in central Japan fell
¥400 ($4.13) per tonne to ¥30,120 ($311) per tonne.
However, prices in the Kansai region around Osaka remained
unchanged at ¥34,000 per tonne.
With scrap prices
hovering at their highest levels in months, prices have shifted
direction in each of the past three weeks as suppliers try to
figure out just how much the market is willing to pay.
Largely behind the
strong upward momentum in Japanese prices since the summer has
been heavy interest from overseas buyers, with the South
Koreans in particular looking to take advantage of the weak
However, there are indications that even they might be
starting to balk at current prices, with market players noting
that inquiries appear to have become more subdued than in
A version of this
article was first published in AMM sister publication Steel