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PrintJapanese ferrous scrap consumption decreased for 4 months in a row through February. The demand decreased by 2.9% to 2.158 million tonnes from January, according to Japan Ferrous Raw Materials Association. The volume was around 50% lower than the recent peak in October 2008 when domestic steel makers reduced the production under slow demand.
The scrap consumption decreased by 8.8% to 486,000 tonnes at converters in February from January. The consumption increased by 2.1% to 1.355 million tonnes at electric furnaces while the demand decreased by 13.1% to 271,000 tonnes at castings.
The scrap supply decreased by 2.3% to 2.32 million tonnes in February from January, which decreased for 4 months in a row. The supply decreased by 15.4% to 791,000 tonnes from steel plants while the supply from market increased by 6.1% to 1.528 million tonnes. –Japan Metal Bulletin
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