Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at around 9,000 yen per tonne for H2, at around 10,800 yen for H1 and at around 12,500 yen for HS at the dealers’ purchase price including freight around Tokyo. The price is likely to keep weak due to very slow domestic demand.

Local electric furnace steel makers pay 15,000-17,000 yen per tonne for H2. The price keeps decreasing while the export price hit around FOB 19,000 yen per tonne from Tokyo bay. Despite of the higher export price, the dealers expect the makers wouldn’t follow the higher export price when the makers expand the production cut to meet very slow steel demand.

Ferrous scrap market price is weak at around 7,500 yen per tonne for H2 grade around Osaka.