Weak Ferrous Scrap Price in Tokyo and Osaka

Ferrous scrap market is decreasing to 27,000 yen per tonne for H2 grade, at 29,300 yen and at 31,000 yen for HS at dealers’ purchase price including freight around Tokyo. Local electric furnace steel makers pay around 32,500-33,500 yen per tonne for H2 and some pay as high as 34,000 yen. Many dealers forecast the market price keeps low, and which seem to hurry up their shipping. Ferrous scrap export is slow from Tokyo Bay. Ferrous scrap is flowing to local electric furnace makers. Overseas market price is decreasing. The market price around Tokyo is expected to keep weak tone in near future. Ferrous scrap market price around Osaka is reducing at around 26,000 yen per tonnes for H2.