Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 9,000 yen per tonne for H2, around 10,800 yen for H1 and around 12,500 yen for HS grade at the dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when the scrap export price is higher than purchase price by local steel makers.

Local electric furnace steel makers pay 15,500-17,000 yen per tonne for H2 grade around Tokyo. The price is around 2,000 yen lower than export price from Tokyo bay. A dealer source expects the scrap market price already hit bottom after the dropping phase since February end while the price wouldn’t rebound sharply when local steel makers reduce the consumption.

Ferrous scrap market price is weak at around 8,500 yen per tonne for H2 grade around Osaka.