Strong Ferrous Scrap Price in Tokyo, Osaka

Ferrous scrap market price would increase from around 22,500 yen per tonne for H2 grade, 24,200 yen for H1 grade and 26,000 yen for HS grade at the dealers’ purchase price around Tokyo. Local electric furnace steel makers pay 31,000-32,000 yen for H2 grade. The dealers’ purchase price is strong at around 21,500 yen for H2 grade around Osaka. Local electric furnaces pay 30,000-31,000 yen for H2 grade and some makers pay around 32,000 yen.

Local electric furnaces’ purchase price increased by around 2,500 yen per tonne around Tokyo since last week. Some makers increased the purchase price under steady demand for export around Tokyo bay. One dealer source sees the price would increase more due to higher scrap export price for South Korea.