Flat Ferrous Scrap Price in Tokyo

Ferrous scrap price is flat at 21,500 yen per tonne for H2, 23,800 yen for H1 and 25,500 yen for HS grade at dealers’ purchase price including freight around Tokyo. The price is expected to keep the level under balanced supply. Local electric furnace steel makers reduced the scrap purchase prices and now they keep the price at around 20,000 yen per tonne for turning grade. They get scrap arrivals enough to the consumption when the scrap export shipping is slow from Tokyo bay. Many market players expect the price will keep the level when local steel makers consume more scrap seasonally.