Lower Ferrous Scrap Price in Tokyo

Ferrous scrap market price decreased to around 20,500 yen per tonne for H2, around 22,300 yen for H1 and around 24,000 yen for HS at the dealers’ purchase price including freight around Tokyo. The price is expected to keep relative high level supported by the tight supply.

Local electric furnace steel makers pay 27,000-28,500 yen per tonne for H2 around Tokyo. Tokyo Steel Manufacturing’s Utsunomiya plant reduced the scrap purchase price by 1,000 yen per tonne on Tuesday and other makers followed the move. However, the dealers expect the price couldn’t decrease widely when the local steel makers resume normal operations after summer time maintenance outage in the week and the exporters keep shipping for existing orders.

Ferrous Scrap market price is flat at around 21,500 yen per tonne for H2 grade around Osaka. Local electric furnace steel makers pay 28,500-30,000 yen for H2.