Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at 32,000 yen per tonne for H2, at 34,300 yen for H1 and 36,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep decreasing under oversupply due to slow export shipment from Tokyo bay. Local electric furnace steel makers pay 36,500-37,500 yen per tonne for H2 grade scrap and some makers pay as high as 38,500 yen. The purchase price decreased by around 3,500 yen in a month. The makers get smooth scrap arrivals enough to the consumption due to slow export shipping. Ferrous scrap market price is weak at 30,500 yen per tonne for H2 grade around Osaka.