Weak Ferrous Scrap Price in Tokyo

Ferrous scrap price is weak at 18,500 yen per tonne for H2, 20,800 yen for H2 and 22,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is expected to keep weak when local electric furnace steel makers plan summer time output reduction. Local scrap generation is slow and the dealers get less scrap arrivals. The slow scrap generation is expected to continue. However, scrap dealers accelerate the scrap shipment for electric furnaces when the dealers expect the price will keep decreasing. Local electric furnace steels pay 25,500-27,000 yen per tonne for H2.The scrap market around Osaka turned into drop phase for the first time in 6 months. The price is around 17,000 yen per tonne for H2 grade.