Weak Ferrous Scrap Price in Tokyo

Ferrous scrap price is weak at 18,500 yen per tonne for H2, 20,800 yen for H1 and 22,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is expected to keep weak when local electric furnace steel makers plan maintenance outage in the summer. Local electric furnaces pay 25,500-26,000 yen per tonne for H2. Some pay as high as 27,000 yen. Tokyo Steel Manufacturing reduced the scrap purchase price by 500 yen for all scrap grades at Kyushu plant on Saturday. Other makers around Tokyo keep the price when Tokyo Steel’s Utsunomiya plant still keeps the price. Ferrous scrap price is flat at around 17,000 yen per tonne for H2 around Osaka.