Weak Ferrous Scrap Price in Tokyo, Osaka

Ferrous scrap market price would decrease from 24,500 yen per tonne for H2 grade, 26,300 yen for H1 grade and 28,000 yen for HS grade at the dealers’ purchase price including freight around Tokyo.

Local electric furnace steel makers’ purchase price decreased by 1,000 yen to 29,000-30,500 yen per tonne for H2 grade and some makers pay around 31,000 yen.

The market price is 1,000-1,500 yen per tonne lower than the level in late September. The price would decline due to slow transaction and weak export price to East Asia.

The market price is weak at around 22,000 yen per tonne for H2 grade at the dealers’ purchase price around Osaka. The local electric furnaces’ purchase price is 30,000-31,000 yen. Local electric furnaces including Osaka Steel, Godo Steel and Shikansai Steel reduced the higher grade scrap purchase price on Thursday. On the other hand, some makers try to increase the purchase volume paying higher price for some grades.