Ferrous Scrap Could Decline in Osaka

Ferrous scrap market price is flat at around 18,000 yen per tonne for H2 grade, 19,800 yen for H1 grade and 21,500 yen for HS grade at the dealers’ purchase price including freight around Tokyo. Local electric arc furnace steel makers’ purchase is 24,000-25,000 yen for H2 grade while some makers pay 25,500 yen, same as last week.

The export price is around FOB 26,000 yen per tonne for H2 grade, which increased by 1,000 yen from last week and the price is as same as local electric furnace steel makers’ purchase price. Market sources forecast the market price would not decline due to the increase in export price.

Ferrous scrap price is flat with potential weakness around Osaka. The dealers’ purchase price is around 16,500 yen per tonne for H2 grade including freight. Electric furnace steel makers’ purchase price is 24,500-25,500 yen for H2 grade. Three local makers reduced the purchase price on Wednesday and Thursday arrival.