Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at 30,000 yen per tonne for H2, 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 the price with pressure by shipping price from Tokyo bay. Hyundai Steel of South Korea offered FOB 37,500 yen per tonne for Japanese H2 grade scrap at weekly tender on Wednesday, which was flat as last week. Japanese scrap export price from Tokyo bay meets the scrap purchase price by local electric furnace steel makers. With the export price pressure, the local makers couldn’t reduce the purchase price. Ferrous scrap market price is also flat at around 29,000 yen per tonne for H2 grade around Osaka.