Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 29,900 yen per tonne for steel turning scrap, at around 32,900 yen for A grade pig iron turning scrap and at around 31,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm with increasing export price from Tokyo bay to East Asia. Local electric furnace steel makers around Tokyo pay 34,000-35,000 yen per tonne for turning scrap and some makers pay as high as 37,000 yen. Tokyo Steel Manufacturing’ Utsunomiya plant increased the purchase price by 500 yen per tonne last week. Other makers followed the move and the averaged purchase price increased by 2,000-3,000 yen from the beginning of the year. Ferrous scrap market price keeps firm at around 34,500 yen per tonne for H2 grade around Osaka.