Tokyo Steel Increases Ferrous Scrap Purchase Price by 500 yen/t

Tokyo Steel Manufacturing increases ferrous scrap purchase price by 500 yen per tonne at Utsunomiya plant on Wednesday. The new purchase price for H2 grade is 37,000 yen per tonne.

Ferrous scrap market price is firm at around 29,000 yen per tonne for H2 grade, 30,800 yen for H1 grade and 32,500 yen for HS grade at the dealers’ purchase price including freight around Tokyo. Local electric furnace steel makers pay 34,500-36,500 yen for H2 grade.

The export transaction price is increasing. The averaged ferrous scrap export price increased by 1,023 yen to FAS 34,342 yen per tonne for H2 grade at joint export tender held by the dealers group around Tokyo on Friday from August. Market sources see domestic scrap supply gets tight due to firm demand from offshore steel makers.