Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at around 6,000 yen per tonne for H2, at around 8,300 yen for H1 and at around 10,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is expected to keep weak under decreasing consumption and slower export shipping.

Local electric furnace steel makers pay 12,000-15,000 yen per tonne for H2 grade. The price dropped by 30,000 yen in the month when the makers reduce the output to meet slower demand. The major importers of South Korean buyers are expected not to purchase Japanese scrap in the financial squeeze under financial crisis.

Ferrous scrap market price is weak at around 3,000 yen per tonne for H2 grade around Osaka.