Flat Ferrous Scrap Price in Tokyo

Ferrous scrap price is flat at around 21,500 yen for H2, at around 23,800 yen for H1 and at around 25,500 yen for HS grade at dealers’ purchase price including freight around Tokyo. The price is expected to keep the level with balanced supply. Steel makers in South Korea and Taiwan are reluctant to buy Japanese scrap when Japanese electric furnace steel makers increase the scrap purchase prices. Hyundai Steel of South Korea purchased Japanese scrap at tender on October 31 at same level of price from previous tender. The price was flat for 3 weeks at FOB 27,500 yen per tonne for H2. Ferrous scrap price is also flat at 17,000 yen per tonne for H2 around Osaka.