Flat H2 Scrap Price in Tokyo

Ferrous scrap market price is flat 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 likely to keep the level when market players wait next move in the market. Local electric furnace steel makers pay 26,000-26,500 yen per tonne for H2. Some pay as high as 27,000 yen and the prices keep the high level. The makers try to keep the competing price with shipping price from Tokyo bay to prevent scrap from shipping for vessels when exporters still have order backlog for export. Ferrous scrap price is firm at 16,500 yen per tonne for H2 around Osaka.