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WEEKLY: Supply constraint lifts Japan’s scrap prices

Slower scrap generation at Japan’s demolishing works has been lending consistent support to the country’s ferrous scrap prices both for domestic sales and exports, with both the prices up by $5-28/t over the week, and scrap trading sources in Tokyo and Nagoya expected further price rises on little improvement in generation in the near term.
Tokyo Steel Manufacturing, Japan’s top electric-arc furnace producer, has lifted its scrap buying prices by Yen1,500-3,000/t ($14-28/t)in total after three adjustments onMay 27, May 29 and June 2respectivelyfor deliveries of all grades to all its four works and its steel distribution center. With the latest adjustments, the mini-mill is paying Yen

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