Ferrous Scrap Price Drops in Tokyo

Ferrous scrap price decreased by 500 yen from last week around Tokyo. The price is around 18,000 yen per tonne for H2, 20,300 yen for H1 and 22,000 yen for HS at dealers’ purchase price including freight. The price is expected to keep weak when local electric furnace steel makers reduce the consumption. Local makers reduce the scrap purchase price under summer time maintenance outage and lower export price from Tokyo bay. The makers pay 25,000-25,500 yen per tonne for H2. Some makers pay as high as 26,500 yen. The makers get sufficient scrap arrivals to meet lower consumption.