Weak Ferrous Scrap Price in Tokyo, Osaka

Ferrous scrap market price is weak in Tokyo and Osaka. The dealers’ purchase price is 17,500 yen per tonne for H2 grade around Tokyo and around 17,000 yen around Osaka. Electric furnace steel makers pay 26,000-27,000 yen per tonne for H2 grade scrap around Tokyo and 26,000-27,000 yen around Osaka. The price could decrease more due to slow demand.

Exporters around Tokyo bay pay FAS 25,000-25,500 yen per tonne for H2 grade scrap. The dealers see the price could decrease more. The dealers around Osaka see electric furnace steel makers could reduce the purchase price while some of the dealers expect the makers couldn’t decrease the purchase price to less than 25,000 yen.

Kanto Tetsugen’s scrap export tender hit FAS 25,702 yen per tonne for H2 grade scrap on Tuesday, which was 5,817 yen lower than previous tender on May 10. Osaka’s tender also decreased by more than 5,000 yen.