Flat Ferrous Scrap Price in Tokyo

Ferrous scrap price is flat at 18,500 yen per tonne for H2, 20,800 yen for H2 and 22,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when exporters keep shipping for the existing orders though some dealers expect the price could decrease due to summer time output reduction by electric furnace steel makers from July.Local electric furnace steels pay 26,000-26,500 yen per tonne for H2 and some pay as high as 27,000 yen. The makers try to compete with shipping price from Tokyo bay. Ferrous scrap price is increasing at 16,500 yen per tonne for H2 around Osaka.