JMB reported that Japanese ferrous scrap market price shows sign to hit bottom recently. Steel makers' scrap purchase price around Osaka increased for the first time in near 2 months when local integrated steel and special steel plants keep high level consumption while the price didn't increase in other areas.
A yard dealer source sees the better market is partly due to lower dealers' inventory under decreasing market price and lower scrap generation after a week long holiday in early May.
The price is also supported by coastal yard dealers' move to restart securing scrap.
