Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 37,000 yen per tonne for H2, at around 39,300 yen for H1 and at 41,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm with higher export price from Tokyo bay. Local electric furnace steel makers pay 41,000-43,000 yen per tonne for H2 grade scrap and some makers pay as high as 44,000 yen. The scrap dealers also increase the purchase price when the export price increases for East Asian buyers. The tight scrap supply lifts the market price along with export shipping. Some dealer sources said the supply condition impacts on makers’ scrap arrivals. Ferrous scrap market price is firm at around 34,500 yen per tonne for H2 grade around Osaka.