Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at around 62,500 yen per tonne for H2, at around 64,800 yen for H1 and at around 66,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak due to slower scrap shipping from Tokyo bay. Local electric furnace steel makers pay 68,500-71,500 yen per tonne for H2 grade. Some steel makers reduced the scrap purchase price when they get smooth scrap arrivals enough to the operations when the dealers ship scrap more to the makers under slow shipping from Tokyo bay. Ferrous scrap market price is flat at around 62,000 yen per tonne for H2 grade around Osaka.