Flat Ferrous Scrap Price in Tokyo

Ferrous scrap price is flat at around 18,000 yen per tonne for H2, 20,300 yen for H1 and 22,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is expected to keep the level when some local electric furnace steel makers are still in maintenance outage. Scrap shipping price from Tokyo bay increases after electric furnace steels in western Japan increased the scrap purchase prices. The shipping price from Tokyo bay is around FAS 26,000 yen per tonne. However, local makers’ consumption is still lower under outage. Local steels pay 25,500-26,000 yen for H2 grade. Ferrous scrap price is firm at around 17,000 yen per tonne for H2 around Osaka.