Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at around 60,500 yen per tonne for H2, at around 62,800 yen for H1 and at around 64,500 yen for HS grade at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak due to slower export shipping from Tokyo bay. Local electric furnace steel makers pay 67,500-70,000 yen per tonne for H2 grade. The makers reduce the scrap purchase price gradually when they get smooth scrap arrivals enough to the operations. The dealers also reduce the purchase price by 1,000 yen from the market in the week. Ferrous scrap market price is also weak at around 61,000 yen per tonne for H2 grade around Osaka.