Lower Ferrous Scrap Price in Tokyo

Ferrous scrap price decreased by 1,000 yen per tonne from last week. The price is 23,000 yen per tonne for H2, 25,300 yen for H1 and 27,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is expected to keep the level under firm export price. Scrap export is slow from Tokyo bay and the local scrap dealers ship the scrap to local electric furnace steel makers. The makers pay 29,500-30,000 yen per tonne for scrap. The purchase price decreased by 3,000 yen in the month to less than 30,000 yen. Ferrous scrap price is firm at around 23,000 yen per tonne around Osaka.