Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 18,000 yen per tonne for H2, around 19,800 yen for H1 and around 21,500 yen for HS grade at the dealers’ purchase price including freight around Tokyo. The price is likely to keep firm when the scrap export price from Tokyo bay is higher than local electric furnace steel makers’ purchase price.

Local electric furnace steel makers pay 24,000-25,500 yen per tonne for H2 grade scrap around Tokyo. The scrap price is pressured by lower steel demand and lower construction steel market price. However, the local scrap supply is balanced due to constant scrap shipping for existing export orders.

Ferrous scrap market price is flat at around 16,000 yen per tonne for H2 around Osaka. Local electric furnace steel makers pay 23,500-25,000 yen for H2 grade as last week.