Firm Ferrous Scrap Price in Tokyo

Ferrous scrap price is firm at 23,500 yen per tonne for H2, 25,800 yen for H1 and 27,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is expected to increase more when local electric furnace steel makers increase the scrap purchase price and scrap export price increases from Tokyo bay.

Local scrap market price increased by around 2,000 yen per tonne in the month when local electric furnaces increased the purchase price to secure more scrap and to compete with export price. The makers pay 30,500-31,000 yen per tonne and some pay as high as 32,000 yen.

Ferrous scrap market price is also firm at around 20,000 yen per tonne for H2 grade around Osaka.