Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 9,000 yen per tonne for H2 grade, around 10,800 yen for H1 and around 12,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep the low level despite of the balanced supply.

Local electric furnace steel makers pay 15,000-17,000 yen per tonne for H2 grade around Tokyo. The price dropped by 2,000-3,000 yen in December when the makers expanded the production cut. However, a dealer said the supply is relative tight due to low level supply from the market.