Japan Ferrous Scrap Market Price to Decline More

Ferrous scrap market price is weak at around 24,000 yen per tonne for H2 grade, 25,800 yen for H1 grade and 27,500 yen for HS grade at the dealers’ purchase price including freight around Tokyo.

Local electric furnace steel makers’ purchase price is 29,000-30,000 per tonne and some makers pay as high as 30,500 yen for H2 grade, which decreased by 2,000-2,500 yen from last week.

The export price to East Asia is around FOB 27,000 yen per tonne, which decreased by 4,000 yen from the beginning of June. The market price would decline more when the export price is lower than the domestic price.

Ferrous scrap market price around Osaka is around 21,500 yen per tonne for H2 grade at the dealers’ purchase price including freight and local electric furnaces pay 29,000-30,000 yen. Godo Steel reduced the purchase price by 1,000 yen for H2 grade on Wednesday at the plant in Osaka. The export price is around 27,000 yen for H2 grade.