Weak Ferrous Scrap Price in Tokyo, Osaka

Ferrous scrap market price would decline from around 23,000 yen per tonne for H2 grade, 24,800 yen for H1 grade and 26,500 yen for H2 grade at the dealers’ purchase price including freight around Tokyo. Local electric furnace steel makers’ purchase price is 28,000-29,000 yen for H2 grade same as last week while some makers pay 29,500 yen.

Most of scrap dealers around Tokyo keep the purchase price unchanged when lcoal electric furnaces keep the purchase prices. The price would not collapse due to the low scrap generation, according to a dealer source.

The ferrous scrap price in Osaka is weak at around 19,000 yen per tonne for H2 grade at the dealers’ purchase price including freight while local electric furnaces’ purchase price is 27,000-28,000 yen. The demand would not decrease due to the outage, trade firm source said.