Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 37,000 yen per tonne for H2 grade, at around 39,300 yen for H1 and at around 41,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when local electric furnace steel makers try to build scrap inventory to keep operation during 3-day holiday weekend through Monday. Local electric furnace steel makers pay 42,000-43,000 yen per tonne for H2 grade scrap and some makers pay as high as 44,000 yen. Hyundai Steel of South Korea offered FOB 43,500 yen per tonne for Japanese H2 scrap at weekly tender on Tuesday, which was same level as last week. Ferrous scrap market price is firm at around 36,000 yen per tonne for H2 grade around Osaka.