Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is decreasing to 10,000 yen per tonne for H2, 12,300 yen for H1 and 14,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak when local makers reduce the output and export shipping from Tokyo bay keeps low level.

Local electric furnace steel makers pay 16,000-19,000 yen per tonne for H2 grade. The makers’ purchase price decreased to less than 20,000 yen for the first time in 3 years. The price decreased by 3,000 yen in the week.

Ferrous scrap market price also decreases to 7,500 yen per tonne for H2 in Osaka. Local electric furnace steel makers reduced the purchase price to 16,000-17,000 yen for H2.