Japan Ferrous Scrap Price to Decrease

Ferrous scrap price is decreasing around Tokyo. The dealers’ purchase price is 15,500 yen per tonne for H2 grade, 17,300 yen for H1 grade and 18,000 yen for HS grade including freight. The purchase price by local electric steel makers is 22,000-23,000 yen per tonne for H2 grade while the higher price is around 23,500 yen.

Local electric furnace steels reduced the purchase price by 1,000-2,000 yen per tonne from Wednesday. The price decreased by around 6,000 yen until Thursday compared with the peak in September. Local electric furnace steels and scrap exporters limit the acceptance. One dealer source said the dealers’ options are limited when many buyers are reluctant to purchase now.

Scrap price is decreasing around Osaka. The market price is around 17,500 yen per tonne for H2 grade while local electric furnace steels’ purchase price is 24,500-26,000 yen per tonne and the higher price is around 27,000 yen.