Ferrous Scrap Price Keeps Flat in Tokyo

Ferrous scrap market price keeps flat under a wait-and-see mood at 34,000 yen per tonne for H2 grade, at 36,300 yen for H1 and at 38,000 yen for HS at dealers’ purchase price including freight around Tokyo. The purchasing price by local electric furnace makers is 39,000-41,000 yen per tonne and some makers pay as high as 41,500 yen.The market price settled down after the upsurge before 3-day weekend for 6-8 October in Japan when electric furnace steel makers concentrated their operations. Utsunomiya works of Tokyo Steel Manufacturing increased the purchasing price of ferrous scrap by 500 yen per tonne effective for shipment on and after 10 October. Other makers set the purchasing price unchanged.Ferrous scrap market price keeps strong at around 30,000 yen per tonne for H2 grade around Osaka. Local makers increased the purchasing price at the end of last week.