Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at 29,000 yen per tonne for H2, at 31,300 yen for H1 and 33,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level with support by export shipping. Local electric furnace steel makers pay 35,500-36,000 yen per tonne for H2 grade scrap and some pay as high as 37,000 yen. The price decreased by 500-1,000 yen in a month. They need less scrap inventory compared with a week ago when they built inventory for output increase in a-week long holiday. A dealer source said local makers could reduce the scrap purchase price more or less. However, exporters will keep shipping scrap for existing order at comparable price with local makers’ purchase prices. Ferrous scrap market price is also flat at around 29,000 yen per tonne for H2 grade around Osaka.