Current Scrap Metal Prices

Japan’s scrap prices tend to slip

The latest market situation shows that scrap prices in Japan’s Kanto and Kansai tend to slide further.

Most local mills couldn’t help but stop or restrict receiving the local scrap. In Kanto, basic H2 scrap prices are between ￥15,500~16,000/ton, but export prices are predicted to rise slightly.

In Tokyo, prices are however keeping above ￥16,000/ton and are expected to maintain firm. Highest deal price of H2 scrap in Osaka is ￥18,000/ton and lowest ￥15,000/ton.

Moreover, Godo, Osaka’s local steel mills, has begun to restrict the scrap receipt since December 15 and eventually stops that this week. Besides, other mills take the same steps.

Japanese stainless scrap prices slide on weaker demand

Japanese steel mills have deferred to purchase the nickel based stainless scrap even though the prices unceasingly plunges, which have dropped to ￥70,000~75,000/ton and even lower.

Japanese steel mills have started to cut output since September. Japanese stainless steel output in 2008 should be 3.36~3.38 million tons only, which is 3.3 percent lower than before. The ratio of nickel based stainless steel products is 54.7 percent which has reduced by 1 percent.

Japanese exporters are facing heavy pressure because the stainless steel outputs in both China and Korea become very tardy.

Besides, most of Japanese steel mills have ceased purchasing the nickel based stainless scrap, hence, the stainless steel mills have tried to lower the stock and scrap purchase price.

Source – www.yieh.com