Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at around 30,000 yen per tonne for H2 grade, at 32,300 yen for H1 and at 34,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak under decreasing scrap export price. Local electric furnace steel makers pay 34,500-36,000 yen per tonne for H2 grade and some makers pay as high as 36,500 yen. The scrap dealers reduced the scrap purchase price from the market by 500 yen in the week. They try to reduce the price when the customer of steel maker reduces the purchase price. Ferrous scrap market price is weak at around 29,500 yen per tonne for H2 grade around Osaka.