Japan Ferrous Scrap Price to Increase

Ferrous scrap market price is likely to increase from around 19,000 yen per tonne for H2 grade at dealers including freight while around 20,800 yen per tonne for H1 grade and around 22,500 yen per tonne for HS grade around Tokyo.

Purchase price by local electric furnace steel makers is 25,500-26,500 yen per tonne for H2 grade while some higher price is 27,000 yen per tonne.

Export transaction price to East Asia is FOB 27,000-27,500 yen per tonne for H2 grade, according to market source. Sources forecast that domestic price would increase when the price for export is higher than domestic electric furnaces’ purchase.

Ferrous scrap price around Osaka is likely to increase. Market price is around 18,000 yen per tonne for H2 grade. Purchase price by local electric steels is 25,000-27,000 yen per tonne.