Ferrous scrap market price is weak at 28,500 yen per tonne for H2, 30,800 yen for H1 and 32,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak under weakening offshore market. Local electric furnace steel makers pay 34,500-35,500 yen per tonne for H2 and some pay as high as 36,000 yen. They get smooth scrap arrival when local dealers liquidate the inventory with expectation for lower price. Ferrous scrap market price is also weak at around 28,000 yen per tonne for H2 around Osaka.
Japan Steel Scrap Composite Prices (Sangyo Press)07/18/2019
|25500YEN (-)||28400YEN (-)|
|234.29US$ (1.03)||260.93US$ (1.14)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)