Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 46,500 yen per tonne for H2 grade, at around 49,800 yen for H1 and at around 50,100 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when the players try to find the trend after Tokyo Steel Manufacturing reduced the purchase price. Local electric furnace steel makers pay 53,000-55,500 yen per tonne for H2 grade. Tokyo Steel’s Utsunomiya plant reduced the purchase price by 1,000 yen on Tuesday but many of other makers keep the purchase price. The scrap dealers see the market trend is still firm when many makers keep the high purchase price. Ferrous scrap market price is firm at around 46,500 yen per tonne for H2 grade around Osaka.