Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at around 37,000 yen per tonne for H2 grade, around 39,300 yen for H1 and around 41,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak under local oversupply when some local electric furnace steel makers stop operation for maintenance and others limit the scrap acceptance. Local electric furnace steel makers pay 42,500-46,000 yen per tonne for H2 grade. Tokyo Steel Manufacturing’s Utsunomiya plant and other local makers reduced the scrap purchase price by 2,000 yen per tonne on Saturday as Friday. Ferrous scrap market price around Osaka is also decreasing to around 40,000 yen per tonne for H2 grade. Local makers’ scrap purchase price is around 48,000-50,000 yen for H2, which decreased to less than 50,000 yen for the first time in 5 and half months.