Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 53,900 yen per tonne for steel turning scrap, at around 56,900 yen for A grade pig iron turning scrap and at around 55,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under tight supply. Local electric furnace steel makers pay 60,000-64,000 yen per tonne for turning scrap. The dealers have trouble to secure the materials from the market under tight supply. A dealer source said the scrap suppliers of manufacturers could hold the scrap inventory with expectation for higher price. Ferrous scrap market price is firm at around 57,500 yen per tonne for H2 grade around Osaka.