Flat Ferrous Scrap 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 grade at dealers’ purchase price including freight around Tokyo. The price is expected to keep the level under tighter supply for maintenance outage season by local electric furnace steel makers. Local steel makers pay 35,500-36,500 yen per tonne for H2 grade and some pay as high as 37,000 yen. They apparently get lower scrap arrival when local scrap dealers have trouble to secure scrap materials from the market. Ferrous scrap market price is flat at around 27,000 yen per tonne for H2 grade around Osaka.