Flat Ferrous Scrap Price in Tokyo

Ferrous scrap price is flat 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 the level when domestic electric furnace steel makers try to increase the output under the demand season. The export shipping is slow from Tokyo bay as last week. Local scrap dealers ship scrap for local electric furnaces. Local electric furnaces secure scrap to meet the consumption. Local electric furnaces increase the scrap purchase price gradually. They pay 28,000-29,000 yen per tonne and some pay as high as 30,000 yen.