Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 58,000 yen per tonne for H2, at around 60,300 yen for H1 and at around 62,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under tight supply. Local makers pay 64,500-65,500 yen per tonne for H2 and some makers pay as high as 66,500 yen. The purchase price has kept increasing since 2007 end and the price increased by around 24,000 yen from the beginning of the year with strong demand from integrated steel makers and offshore buyers. Ferrous scrap market price is increasing at around 54,000 yen per tonne for H2 grade around Osaka.