Weak Ferrous Scrap Price in Tokyo

Ferrous scrap price is decreasing to around 13,500 yen per tonne for H2, around 15,800 yen per tonne for H1 and around 17,500 yen per tonne for HS at dealers’ purchase price including freight in Tokyo.Local electric furnace steel makers purchase ferrous scrap at around 21,500-22,500 yen per tonne for H2. The purchase price is decreasing. Dealers’ purchase price also decreases slightly.Ferrous scrap export price is around FAS 21,000 yen per tonne for H2 in Tokyo Bay area. Offshore buyers urge lower price for Japanese scrap though Japanese exporters are getting more new orders gradually.Ferrous scrap price would maintain weak in Japan and the U.S.A. for a while, when Japanese and offshore steel makers control their output volume mainly for long steel products.