Firm Ferrous Scrap Price in Tokyo

Ferrous scrap price increased by 500 yen to 22,500 yen per tonne for H2, 24,800 yen for H1 and 26,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is expected to keep firm under the supply condition. The scrap shipping was slow from Tokyo bay last week. With the lower vessel cargo, local dealers shipped more to local electric furnace steel makers. Local makers buy the scrap at 29,000-29,500 yen per tonne and some pay as high as 31,000 yen. Ferrous scrap price is also firm at around 19,000 yen per tonne for H2 around Osaka.