Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 49,500 yen per tonne for H2, at around 51,800 yen for H1 and at around 53,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm with higher export price from Tokyo bay. The export price hit record FAS 58,000 yen per tonne for H2 grade for May shipment from Tokyo bay at monthly export tender held by Kanto Tetsugen on April 9, which was 5,750 yen higher than previous tender. The price is around 1,000 yen higher than purchase price by local electric furnace steel makers. The higher export price is expected to lift the local makers’ purchase price. Ferrous scrap market price is also firm at around 49,500 yen per tonne for H2 grade around Osaka.