Ferrous Scrap Purchase Price is Increasing by Makers in Tokyo

The purchase price of ferrous scrap by electric furnace makers around Tokyo is increasing. Some makers raised the purchase price from the last week. It is expected the ferrous scrap market price rise by degrees around Tokyo because each maker’s scheduled refinement in summer finished. Utsunomiya factory of Tokyo Steel Manufacturing, Japanese price leader, raised the purchase price by 1,000 yen per tonne for only turning scrap, by 500 yen for other scrap from September 2. Utsunomiya factory’s purchase price was at 27,500 yen per tonne for H2 grade.Some makers around Tokyo raised the purchase price by 500-1,000 yen per tonne after Tokyo Steel’s price hike. Makers’ purchase price is at 26,000-26,500 yen per tonne for H2 grade around Tokyo.The ferrous scrap export price is increasing from Tokyo gulf against a background of the increasing in purchase price by makers in west Japan from the last half of August. In recently, the export price increased to FAS around 26,500 yen per tonne by about 1,000 yen from last month.