Flat Ferrous Scrap Price in Tokyo

Ferrous scrap price is flat at 23,000 yen per tonne for H2, 25,300 yen for H1 and 27,000 yen for HS grade at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when local electric furnace steel makers increase the output. Local electric furnaces pay 29,500-30,000 yen per tonne. Local dealer source said the makers don’t reduce the purchase price when they increase the output in 3-day holiday week end due to lower electricity cost though the local supply is easier due to slower shipping to other areas and export. Ferrous scrap price is in decreasing phase for the first time in 5 months around Osaka. The dealers’ purchase price is around 23,000 yen per tonne for H2 grade.