Weak Ferrous Scrap Price in Tokyo

Ferrous scrap price is decreasing at 18,500 yen per tonne for H2, 20,800 yen for H1 and 22,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is expected to decrease when electric furnace steel makers plan seasonal output reduction during summer. Local electric furnace steel makers pay 25,500-27,000 yen per tonne for H2 when the competing export FAS price keeps the level from Tokyo bay. Tokyo Steel Manufacturing reduced the purchase price by 1,000 yen at Kyushu plant and by 500 yen for ocean transport at Okayama plant. The firm keeps the price at Utsunomiya plant. Other makers around Tokyo also watch the market move without aggressive move. Ferrous scrap price is flat at around 17,000 yen per tonne for H2 around Osaka.