Ferrous Scrap Price is in the Strong Tone in Tokyo

The ferrous scrap market is in the strong tone in the Tokyo area, Eastern Japan. The prices are around 16,000 yen per tonne for H2, around 18,300 yen or so per tonne for H1, and around 20,000 yen per tonne for HS for ferrous scrap dealers’ purchase price.Kanto Tetsugen Kyodo Kumiai, the ferrous scrap dealers’ association in the Kanto area around Tokyo, is carrying out export auction of ferrous scrap for its shipping in April on Thursday. The amount at 10,000-20,000 tonnes of scrap is planned to be the successful bid. Average of contract price for H2 was 24,490 yen per tonne for F.A.S. in the previous bid. The ferrous scrap tender for export on Thursday is likely to be 25,000-25,500 yen per tonne following the successful bid at the higher prices by Kansai Tetsugen Kyogikai, the ferrous scrap dealers’ association in the Kansai area, Western Japan according to some reliable source. Some ferrous scrap dealers think the current export price will be hitting the ceiling, so they take a cautious stance on the purchase price. The market is likely to remain with its strong tone for the time being. On the other hand, the ferrous scrap price in the Osaka area, Western Japan, is almost flat at 11,000 yen or so per tonne for H2.