Firm Ferrous Scrap Price in Tokyo

Ferrous scrap price increased by 500 yen to 22,000 yen per tonne for H2, 24,300 yen for H1 and 26,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is expected to keep firm when local electric furnace steel makers increase the scrap purchase to increase the output. Local electric furnace increased the purchase price slightly by last week. They pay 28,500-29,000 yen per tonne for H2 and some pay as high as 30,500 yen. Ferrous scrap price keeps firm at around 18,000 yen per tonne for H2 grade around Osaka.