Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 55,500 yen per tonne for H2, at around 57,800 yen for H1 and at around 59,500 yen for HS grade at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm with rising export price from Tokyo bay. Local electric furnace steel makers pay 62,500-63,500 yen per tonne for H2 grade and some maker pay as high as 64,500 yen. The makers try to secure the materials under competition with export, shipping to other area of Japan and integrated steel makers. Some electric furnaces increased the purchase price by 1,000-1,500 yen in the week. Ferrous scrap market price is firm at around 53,500 yen per tonne for H2 grade around Osaka.