JAPAN STEEL SCRAP: Mills switching to shredded from busheling amid low supply

Low generation of Shindachi busheling is forcing some Japanese blast furnace (BF)-based mills to procure more shredded scrap instead of the high-grade new production material, sources told Fastmarkets.

Japanese BF steelmakers have ramped up their intake of steel scrap this year in line with stronger production levels and ambitious targets on CO2 reduction.
Japanese steel production totaled 7.9 million tonnes in August, down slightly from 8.0 million tonnes in July but still up by 22.90% year on year, according to the World Steel Association.
The grades of choice for BF-based mills for most of this year have been heavy scrap due to its high material density and Shindachi due to its cleanliness and high yield, while shredded is used more commonly by electric-arc furnaces (EAFs).

But the drop-off in Shindachi supply has led these BF mills to look to the market for shredded of high quality...

Smaller juniors still financed even in more cautious market

Gold stocks shrug off equity market decline on metal gain

Geopolitical risk outlook unclear after US election

Low valuations offer a cushion to mining sector

Polarized gold and iron ore moves, moderate aluminum and copper gains