Ferrous Scrap Price to Increase in Tokyo, Osaka

Ferrous scrap market price is flat with potential strength around Tokyo. The purchase price by the dealers is around 17,700 yen per tonne for H2 grade, around 18,800 yen for H1 grade and 20,500 yen for HS grade including freight. Local electric furnace steel makers’ purchase price is around 23,000-24,000 yen.

The dealers start to hike the purchase price when local electric furnace steels increased the price at the end of last week. Ferrous scrap export is increasing gradually to East Asia. One dealer source sees the supply would be tight in short term and the price increases. However, domestic demand for steel products is weak and the price could decrease. The ferrous scrap price could show a sign to decrease again.

Ferrous scrap price shows a sign to increase around Osaka. The dealers’ purchase price increased to around 16,500 yen per tonne for H2 grade. Local electric furnace steels’ price is around 24,000-25,500 yen for H2 grade.