Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 33,900 yen per tonne for steel turning scrap, at around 36,900 yen for A grade pig iron turning scrap and at around 35,900 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 38,500-39,500 yen per tonne for turning scrap and some pay as high as 41,500 yen. Local scrap dealers increased the purchase price by 1,000 yen in the week when Tokyo Steel Manufacturing’s Utsunomiya plant and other makers, which decrease scrap inventory due to limited supply, increased the purchase price to secure more materials. Ferrous scrap market price is firm at around 40,000 yen per tonne for H2 grade around Osaka.