Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price decreased to 7,500 yen per tonne for H2, 9,800 yen for H1 and 11,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price could decrease more when electric furnace steel makers reduce the output.

Local steel makers pay 13,500-16,500 yen per tonne for H2 grade. The averaged price decreased to less than 15,000 yen for the first time in 5 years. Tokyo Steel Manufacturing reduced the purchase price by 1,000 yen at Utsunomiya plant on Saturday and other makers followed the move under the oversupply when the demand decreases for shipping to western Japan and offshore buyers.

Ferrous scrap market price is weak at around 5,500 yen per tonne for H2 around Osaka. The local electric furnace steel makers pay 14,000-15,500 yen for H2 grade.