Flat Ferrous Scrap in Tokyo

Ferrous scrap market price is flat at 30,000 yen per tonne for H2, at 32,300 yen for H1 and at 34,000 yen for HS grade at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when the interests try to watch the market trend. Local electric furnace steel makers pay 35,500-36,500 yen per tonne for H2 grade scrap and some pay as high as 37,000 yen. Tokyo Steel Manufacturing’s Utsunomiya plant increased the purchase price by 500 yen for all grades scrap on Tuesday. Other local makers left the purchase price unchanged due to their maintenance outage. Ferrous scrap market price is flat at around 29,000 yen per tonne for H2 grade around Osaka.