Ferrous scrap market price is flat at around 24,000 yen per tonne for H2 grade at the dealers’ purchase price including freight around Tokyo. The price is 25,800 yen for H1 grade and 27,500 yen for HS grade. The price is weak due to slow demand both for export and domestic buyers.Local electric furnace steel makers pay 29,500-30,500 yen per tonne for H2 grade scrap around Tokyo. Scrap shipping price from Tokyo bay is around FAS 28,000 yen. The export to East Asia is slow while the shipment is also slow for western Japan. A dealer said local makers couldn’t increase the purchase price due to the lower shipping price from bay area. Ferrous scrap market price is flat at around 22,000 yen per tonne for H2 grade at the dealers’ purchase price including freight around Osaka. Local electric furnace steel makers pay 31,000-32,000 yen for H2 grade scrap. The price is expected to decrease more when export successful bid decreased to less than FAS 31,000 yen at monthly tender in Tokyo while East Asian buyers show slow appetite. A dealer source around Osaka said next point is local makers’ steel order receipt after Tokyo Steel Manufacturing reduced the steel price. The source expects lower crude steel production in November than October could pressure on scrap market price.
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