Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price would decrease around Tokyo. The market price is around 22,000 yen per tonne for H2 grade, 23,800 yen for H1 grade and 25,500 yen for HS grade at the dealers’ purchase price including freight. Tokyo Steel Manufacturing reduces ferrous scrap purchase price by 500 yen for all plants on Thursday.

Tokyo Steel’s new ferrous scrap purchase price for H2 grade is 30,000 yen at Okayama plant, 30,500 yen at Kyushu plant, 29,500 yen at Takamatsu plant and Tahara plant and 31,000 yen at Utsunomiya plant.

Local electric furnace steel makers pay 30,500-31,500 yen for H2 grade scrap around Tokyo. Some local steel makers limit the scrap purchase volume when the arrival is stable. One dealer source sees the shipment slows for western Japan. The export transaction almost stopped for countries in East Asia due to Chinese New Year holiday and the shipping for export slows. The lower demand contributes to loose supply. The source sees the domestic market price is weak in January.