Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 54,000 yen per tonne for H2, 56,300 yen for H1 and at 58,000 yen for HS grade at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under tight supply. Local electric furnace steel makers pay 59,500-61,500 yen per tonne for H2 grade and some makers pay as high as 62,500 yen. The export price from Tokyo bay also increases when local steel makers increase the purchase price. The steel makers could increase the purchase price when the export price level is competitive and some dealers ship scrap for export. Ferrous scrap market price is firm at around 52,500 yen per tonne for H2 grade around Osaka.