Ferrous Scrap Price Keeps Uptrend

Ferrous scrap market price keeps strong at around 25,500 yen per tonne for H2, at around 27,800 yen per tonne for H1 and at around 29,500 yen per tonne for HS at dealers’ purchase price including freight in Tokyo.Electric furnace steel makers around Tokyo are purchasing ferrous scrap at 32,500-33,000 yen per tonne for H2. The local electric furnace steels keep their purchasing prices as flat as the end of February when most of them raised the prices.On the other hand, newly contracted ferrous scrap export price is higher than the local makers’ purchasing prices currently. Ferrous scrap market price could maintain uptrend due to the strong export price.