Japan Ferrous Scrap Price Decreases by 500-1,000 yen

Japanese Ferrous scrap market price decreased by 500-1,000 yen per tonne when ferrous scrap export slows for East Asia. Japan’s largest electric furnace steel maker of Tokyo Steel Manufacturing reduced ferrous scrap purchase price at all plants on Tuesday. Local electric furnaces’ purchase price decreased to less than 35,000 yen for H2 grade in Tokyo and Osaka.

Ferrous scrap market price decreased to 34,000-35,000 yen per tonne for H2 grade at local electric furnaces’ purchase price around Tokyo while some makers pay 36,000 yen. The electric furnaces reduced the purchase price by 500-1,500 yen on Tuesday. The scrap exporters reduced the purchase price to around FAS 33,500-34,500 yen at Tokyo bay.

Local electric furnaces reduced ferrous scrap purchase price by 500-1,000 yen to around 34,000-34,500 yen per tonne for H2 grade around Osaka on Tuesday.