Ferrous Scrap Export Price Drops by 500 yen/t in Tokyo

Ferrous scrap shipping price decreased by around 500 yen to FAS 32,000-32,500 yen per tonne for H2 grade at quay around Tokyo from last week when the scrap purchase price decreased in western Japan and East Asia.

Electric furnace steel makers around Tokyo pay 33,500-34,500 yen for H2 grade. The scrap market price could decrease due to weak shipping price to western Japan and East Asia. The scrap dealers build up the inventory with expectation for higher price in September.

Ferrous scrap market price is 28,000 yen per tonne for H2 grade, 29,800 yen for H1 grade and 31,500 yen for Hs grade at the dealers’ purchase price including freight around Tokyo. The dealers try to keep the scrap selling price due to low scrap supply.