Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at 34,000 yen per tonne for H2, at 36,300 yen for H1 and at 38,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price could keep weak under peaking export price. Japanese scrap export price decreased to FAS 37,928 yen per tonne for H2 grade at monthly export tender held by Kanto Tetsugen on Thursday, which was 778 yen lower than previous month and first drop in 5 months. The export price is peaking after local electric furnace steel makers increased the purchase price in September. Ferrous scrap market price is firm at around 31,000 yen per tonne for H2 grade around Osaka.