Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price decreased to 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. Some scrap dealers expect if the export price would increase, the price could hit bottom near future.

Local electric furnace steel makers pay 15,000-17,000 yen per tonne for H2 grade .The price keeps decreasing due to major production cut by the makers and lower export shipping.

However, the scrap export price hit FAS 17,526 yen per tonne for H2 from Tokyo bay at monthly export tender held by Kanto Tetsugen on Wednesday, which was 1,000 yen higher than local electric furnace steel makers’ purchase price.