Firm Ferrous Scrap Price in Tokyo

Ferrous scrap price is firm in Tokyo at around 10,400 yen per tonne for steel turning scrap, around 13,400 yen per tonne for A grade pig iron turning scrap and around 12,400 yen per tonne for B grade pig iron turning scrap at dealers’ purchase price including freight.Ferrous scrap emergence is few in the market and scrap arrival is not favorable at dealers. On the other hand, there seems much ferrous scrap stock around Tokyo Bay.The export price is increasing to FAS 24,000-24,500 yen per tonne for H2 when electric furnace steel makers around Tokyo raised their purchase prices and the successful tender price increased at the export tender held by Kanto Tetsugen, despite unfavorable allocation of ships. In Osaka, ferrous scrap price is strong at around 15,500 yen per tonne for H2.