Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 46,900 yen per tonne for steel turning scrap, at around 49,900 yen for A grade pig iron turning scrap and at around 48,900 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 52,000-53,000 yen per tonne for turning scrap and some makers pay as high as 56,000 yen. Local makers finished the inventory building before the week long holiday but they consume the inventory during the holiday. A dealer source said the local market could keep tight supply position. Ferrous scrap market price is firm at around 52,500 yen per tonne for H2 grade around Osaka.