Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at 32,500 yen per tonne for H2, at 34,800 yen for H1 and at 36,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak with slower export shipping from Tokyo bay. Local electric furnace steel makers pay 37,000-38,000 yen per tonne for H2 and some makers pay as high as 39,000 yen. The market price decreased by 1,500-2,000 yen in October when local steel makers get smooth scrap arrivals enough to the operations under slower export shipping. Ferrous scrap market price is weak at around 31,000 yen per tonne for H2 grade around Osaka.