Flat Ferrous Scrap in Tokyo, Osaka

Ferrous scrap price is flat at around 15,000 yen per tonne for H2, around 16,800 yen for H1 and 18,500 yen for HS grade at the dealers’ purchase price including freight around Tokyo. Local electric furnace steel makers’ purchase price is 21,000-23,000 yen for H2 grade.

The export price for H2 grade to East Asia is slightly higher than local dealers’ purchase price. However, the price declined by 1,000 yen to around FOB 23,300 yen per tonne compared with last week. The inquiries from overseas users slightly increased in October. However, importers in China and South Korea are unlikely to purchase scrap at higher price from Japan. One trade firm source sees the export to East Asia would not lift the domestic price so much.

Scrap price around Osaka is flat with potential weakness. The dealers’ purchase price is at around 15,500 yen per tonne for H2 grade. Local electric furnace steel makers pay 23,000-25,000 yen for H2 grade.