Strong Ferrous Scrap Price in Japan

Ferrous scrap market price is strong at around 37,500 yen per tonne for H2 grade, 39,800 yen for H1 and 41,500 yen for HS.Electric furnace steel makers around Tokyo, such as Utsunomiya works of Tokyo Steel Manufacturing, increased their ferrous scrap purchasing price by 500-1,000 yen per tonne with less scrap inventories.Tokyo Steel raised the purchasing price by 1,500 yen to 49,000 yen in Okayama works, by 1,000 yen to 47,500 yen in Kyusyu works, by 1,000 yen to 46,000 yen in Takamatsu works and by 1,000 yen to 45,500 yen in Utsunomiya works effective for arrivals on and after 19 February.Hyundai Steel of South Korea offered around FOB 45,000 yen per tonne for Japanese H2 grade scrap at a weekly tender on 13 February, up by 1,500 yen per tonne from a previous offer. Ferrous scrap export price is steady.