Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price keeps firm at around 36,500 yen per tonne for H2, at around 38,800 yen for H1 and at around 40,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm with strong US market and strong appetite from offshore buyers. Local electric furnace steel makers around Tokyo pay 41,000-42,500 yen per tonne for H2 grade and some makers pay as high as 43,500 yen. Some steel makers increased the purchase price by 1,000-1,500 yen in the week when scrap export price from Tokyo bay increases with strong demand from Taiwanese and South Korean steel makers. Ferrous scrap market price is firm at around 33,500 yen per tonne for H2 grade around Osaka.