Japan Metal Bulletin reported that Japanese ferrous scrap price decreased for 4 weeks in a row when the supply gets loose under low level operation rate by local electric furnace steel makers around Tokyo after the major earthquake.
Japanese automakers' production cut also impacts on steel makers operation. The lower automobile production reduces the scrap generation mainly for new cutting grade. Electric furnace steel makers around Nagoya and Osaka try to secure the high grade scrap by keeping the scrap purchase price. The price trend is mixed between decreasing heavy grade and firm high grade scrap.