Firm Ferrous Scrap Price in Tokyo

Ferrous scrap price is firm at 21,500 yen per tonne for H2, 23,800 yen for H1 and 25,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is expected to keep firm when local electric furnace steel makers could increase the purchase prices. Tokyo Steel Manufacturing increased the scrap purchase price by 500 yen per tonne for ocean transportation to Okayama plant on Wednesday. The purchase price increased to 31,000 yen per tonne for H2 grade for the first time in 25 years. Electric furnace steel makers around Tokyo pay 28,500-29,000 yen per tonne for H2 grade and some pay as high as 30,500 yen after some of them increased the prices. Ferrous scrap price is firm at around 18,000 yen per tonne for H2 grade around Osaka.