Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm 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 price is expected to keep firm under upward trend for scrap export price from Tokyo bay. Local electric furnace steel makers pay 39,000-40,000 yen per tonne for H2 grade and some makers pay as high as 41,500 yen. Local scrap supply is still low level even after the summer holiday season. Local scrap dealers have trouble to secure materials and they expect the tight supply continues. Ferrous scrap market price is flat at around 29,000 yen per tonne for H2 grade around Osaka.