Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 3,000 yen per tonne for H2, at around 5,300 yen for H1 and at around 7,000 yen for HS at the dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when offshore market regains the activity gradually.

Local electric furnace steel makers pay 8,000-11,000 yen per tonne for H2 grade around Tokyo. The makers’ purchase price is expected to hit bottom since last week when scrap export transactions resumed and local scrap supply is still low level. The market couldn’t rebound soon when local makers reduce the output but the lower price expectation is fading.

Ferrous scrap purchase price by electric furnace steel makers around Osaka is 8,500-10,000 yen per tonne for H2 grade around Osaka when the market shows sign to hit bottom.