SCRAP METAL PRICES (JAPAN)

The Japan Iron and Steel Recycling Industry Association announced the domestic iron scrap market information on December 2nd.

The domestic iron scrap market in November rebounded against the backdrop of the reversal of overseas markets. The nationwide rise in domestic market prices is the first in eight months since March. At the end of the month at the end of the month, the H2 furnace advancement is proceeding back to ¥ 23,000 to ¥ 24,000, ¥ 1,000 to ¥ 24,000 higher than the previous month, and ¥ 23,500 to ¥ 24,500, ¥ 1,500 to ¥ 2,000 higher in Kansai.

Overseas, the market for Turkey began to rise from the end of October, and the US HMS contract price for the country at the end of November rose to $ 260 (CFR), a rise of $ 34 from the bottom. At the same time, the price of new negotiations in the Asian market has risen, and the export FOB price of Japanese-made H2 to Korea has risen from ¥ 24,500 to ¥ 25,000, an increase of ¥ 2,500 to ¥ 3,000 from the previous month.

While the overseas market is expected to increase further in the future, the recovery of demand is delayed in Japan, as crude steel production of electric furnace steel has been negative for the eighth consecutive month until October. Although the domestic iron scrap market has finally escaped the long-term decline phase, the rebound is lacking in strength and is in an unstable situation depending on the rise in overseas markets.




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