Firm Ferrous Scrap Market in Tokyo

Ferrous scrap market price is firm at 31,000 yen per tonne for H2 grade, at 33,300 yen for H1 and at 35,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level under the balanced supply. Local electric furnace steel makers pay 36,000-37,500 yen per tonne for H2 grade and some pay as high as 38,500 yen. The scrap dealers get lower volume of scrap arrivals from the market under low level supply. The local supply is balanced despite of maintenance outage by local electric furnaces. Ferrous scrap market price is flat at around 29,000 yen per tonne for H2 grade around Osaka.