Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 37,400 yen per tonne for steel turning scrap, at around 40,400 yen for A grade pig iron turning scrap and at around 39,400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm with strong domestic demand. Local electric furnace steel makers pay 43,500-44,500 yen per tonne for turning scrap and some makers pay as high as 46,500 yen around Tokyo. The dealers try to secure the materials at higher price along with local steel makers. The supply could increase toward end of fiscal year when the suppliers try to liquidate the inventory while the demand from Osaka and other area is very strong. Ferrous scrap market price is firm at around 42,000 yen per tonne for H2 around Osaka.