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 grade at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level with mixed factors. Japanese export price increased to record FAS 36,260 yen per tonne for H2 at monthly export tender held by Kanto Tetsugen on August 9, which was 1,273 yen higher than previous month and slightly higher than former record of 36,260 yen in April. The export price is slightly higher than purchase price by local electric furnace steel makers. The makers plan maintenance outage after mid-August holiday reducing the local scrap consumption. However, the scrap market price could keep high with pressure by international market.