Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 35,400 yen per tonne for steel turning scrap, at around 38,400 yen for A grade pig iron turning scrap and at around 37,400 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 supply. Local electric furnace steel makers pay 40,000-41,000 yen per tonne for turning scrap and some makers pay as high as 43,000 yen. The makers increased the purchase price by around 2,500 yen last week to build scrap inventory. Local scrap dealers increased the scrap purchase price from the market when they try to secure the materials under strong demand from other areas. Ferrous scrap market price is firm at around 40,000 yen per tonne for H2 grade around Osaka.