Ferrous Scrap Price Increases in Tokyo

Ferrous scrap price increased by around 500 yen from the previous week in Tokyo. It is around 14,500 yen per tonne for H2 and around 16,800 yen per tonne for H1, 18,500 yen per tonne for HS at dealer’s purchase price including freight. Local electric furnace steel makers pay 23,000-23,500 yen per tonne for H2. The purchase price is increasing gradually by rising of export price. However, scrap dealers expect the purchase price and export price to rise further, and they are increasing their purchase price gradually. The scrap supply is tight in Tokyo and the market price is likely to keep strong tone. Though part of the market see that export price is possible to reach the ceiling shortly, the market price is expected to rising further .Ferrous scrap price keeps firm in Osaka. The market price is around 10,500 yen per tonne for H2.