Tokyo’s Ferrous Scrap Market Price to be in the Strong Tone

The ferrous scrap market prices in the Tokyo area is in the strong tones. The scrap dealers’ purchase price is around 16,500 yen per tonne for H2, around 18,500 yen per tonne for H1, and around 20,500 yen per tonne for HS. The local electric furnace makers will concentrate on their production operation in March 18-21. They already finished the scrap purchase, and some of them stopped the purchase. Consequently, the scrap dealers are continuing cautious reaction.There is a low possibility that the scrap market price will rise sharply because the steel makers’ scrap inventory volume is good enough. However, it is expected that the market price will hover in be firm since the high price export scrap is shipped in the future.In the Osaka area, western Japan, the purchase scrap prices by dealers remains to be in the strong tones at around 11,000 yen per tonne for H2. The local electric furnace steel makers’ purchase price is around 23,000-24,000 yen per tonne for H2 and around 24,500 yen as a higher price. Ferrous scrap export price is in the strong tone. The export price from Tokyo Bay is at 24,000-24,500 yen per tonne for F.A.S. for H2.