Flat Ferrous Scrap Market Price in Tokyo

Ferrous scrap market price is flat at 29,500 yen per tonne for H2, at 31,800 yen for H1 and at 33,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level with firm export price. Hyundai Steel of South Korea increased the offer price to FOB 37,500 yen per tonne for Japanese H2 grade scrap at weekly tender on Wednesday, which was 500 yen higher than previous week. Local scrap dealers see the market price could keep the level even during the summer vacation in mid-August, when local electric furnace steel makers plan maintenance outage. Ferrous scrap market price is firm at around 28,500 yen per tonne for H2 grade around Osaka.