December 03, 2008

Japan ferrous scrap price hits JPY 60,000 per tonne

JMB reported that Japanese ferrous scrap price level reaches JPY 60,000 per tonne under tight supply.

The report added that electric furnace steel makers' purchase price increased by JPY 1,500 to JPY 59,000 to JPY 60,000 for H2 grade around Osaka. The scrap price is expected to keep high level when integrated steel makers increase the purchase volume along with firm offshore demand.