Higher Export Price to Lift Ferrous Scrap Price in Tokyo and Osaka

Ferrous scrap market price is increasing from 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 including freight around Tokyo. Local electric steels’ price is 24,000-25,000 yen per tonne for H2 grade while some makers pay around 25,500 yen.

The export price at averaged successful bids for monthly tender held by dealers’ group for shipment in December became FAS 24,264 yen per tonne, which is higher than current export price.

Market sources see ferrous scrap price increases when the export price continues increasing.

Ferrous scrap price is increasing from around 17,500 yen for H2 grade and local electric steels’ price is 24,500-25,500 yen per tonne while higher price is around 26,500 yen. Increase in export price is likely to lift the price around Osaka.