Ferrous Scrap Purchase Price Increases in Tokyo

Ferrous scrap purchase price by electric furnace steel makers rose by about 1,000 yen per tonne around Tokyo. Some makers raised the purchase price at the end of last week. The export price is also increasing from Tokyo gulf. Ferrous scrap market would become even stronger around Tokyo toward the demand season of autumn.Electric furnaces’ purchase price increased by 1,500-2,000 yen to 27,500-28,000 yen per tonne for H2 grade around Tokyo this month. Utsunomiya factory of Tokyo Steel Manufacturing raised the purchase price for all ferrous scrap items by 1,000 yen per tonne on September 23, which reached 29,500 yen for H2 grade as expensive as record in October 2004. Other makers also raised the purchasing price following Tokyo Steel Manufacturing.The export price from Tokyo gulf increased by over 1,000 yen to around FAS 27,500 yen per tonne this month from August for both domestic and exporting shipment.Ferrous scrap export price was FAS 27,800 yen per tonne for H2 grade at export tender held by scrap dealers’ association in Osaka on Friday. The successful tender price exceeded the price of Kanto Tetsugen by 500 yen per tonne, which was 27,300 yen at export tender on September 12.