Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 39,400 yen per tonne for steel turning scrap, at around 42,400 yen for A grade pig iron turning scrap and at around 41,400 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 local supply. Local electric furnace steel makers pay 44,500-46,000 yen per tonne and some makers pay as high as 50,000 yen. Local makers increased the purchase price by 4,500-5,000 yen in the moth to secure materials to compete with offshore buyers. Ferrous scrap market price also surges to 46,500 yen per tonne for H2 grade scrap around Osaka.