Weak Ferrous Scrap Price in Tokyo, Osaka

Ferrous scrap market price would decrease in Tokyo and Osaka. The price is around 23,500 yen per tonne for H2 grade at dealers’ purchase around Tokyo. The price is around 22,500 yen around Osaka. Local electric furnace steel makers’ purchase price is 32,000-33,000 yen for H2 grade around Tokyo and around Osaka. Some makers pay 33,500 yen around Osaka.

Local exporters reduced the scrap purchase price around Tokyo bay to match electric furnace makers’ purchase price cut. Around Osaka, Kishiwada Steel reduced the purchase price by 1,000 yen per tonne for shredder and by 500 yen for other items while the firm left the price unchanged for steel turning scrap. Shinkansai Steel reduced the price by 500 yen for all grades.

The scrap supply gains loose when both dealers and the makers hold overstock around Tokyo and around Osaka. One dealer source around Tokyo sees some dealers hurry to sell off the scrap.