Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 9,000 yen per tonne for H2, around 10,800 yen for H1 and around 12,500 yen for HS at the dealers’ purchase price including freight around Tokyo. The price is likely to keep the level with support by the export market.

Local electric furnace steel makers pay 15,500-17,000 yen per tonne for H2. The domestic market is uncertainty due to major production cut by electric furnace steel makers and potential price drop for steel products. However, the scrap export price is 2,000-3,000 yen higher than local steel makers’ purchase price. A dealer source said the domestic scrap market could rebound depending on the export transaction.

Ferrous scrap market price is flat at around 8,500 yen per tonne for H2 grade around Osaka.