Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 46,500 yen per tonne for H2, at around 49,800 yen for H1 and at around 50,100 yen for HS grade at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when the market players try to find the market move. Local electric furnace steel makers pay 53,000-54,000 yen per tonne for H2 grade and some makers pay as high as 55,500 yen. Some makers reduced the purchase price while scrap export price from Tokyo bay keeps firm. Local dealers expect the price couldn’t decrease for a while. Ferrous scrap market price is firm at around 46,500 yen per tonne for H2 grade around Osaka.