Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 18,500 yen per tonne for H2, around 20,300 yen for H1 and around 22,000 yen per tonne at the dealers’ purchase price including freight around Tokyo. The price is likely to keep firm due to tight supply.

Local electric furnace steel makers pay 25,000-26,500 yen per tonne for H2 grade scrap. The scrap supply is still very low level when local manufacturers’ operation is low level. A dealer source said the scrap supply shows no sign to recover. The supply balance is likely to keep tight despite of the major production cut by local steel makers.

Ferrous scrap market price increased to around 17,500 yen per tonne at the dealers’ purchase price around Osaka when local steel makers increased the purchase price to 25,000-26,500 yen level.