Ferrous Scrap Price is Still Weak Tone in Tokyo

Ferrous scrap price is still weak tone in Tokyo. It is around 14,000 yen per tonne for H2 and around 18,000 yen for HS at dealer’s purchasing price including freight.Electric furnaces steel manufactures reduced the purchasing price of ferrous scrap by about 500 yen per tonne before consecutive holidays. It is a ground of easy of supply and demand. Dealers plan to reduce the purchasing price too.Goods for export are expected to be shipped at full swing from this week, but that is not enough to improve supply and demand. Export market is expected to be improved in February and after.Ferrous scrap purchasing price by local electric furnaces steel manufactures is around 22,000-22,500 yen per tonne for H2. Arrival in makers keeps active.For the moment, market is likely to continue slight downward phase.Ferrous scrap price keep the wait and see situation with weak tone in Osaka. Market price is around 11,500 yen per tonne for H2.