Higher Ferrous Scrap Price in Tokyo, Osaka

Ferrous scrap market price is increasing around Tokyo and Osaka. Local electric furnace steel makers increased ferrous scrap purchase price on Thursday when Tokyo Steel Manufacturing increased the scrap purchase price at all plants on the day. Higher scrap export price and shipping for South Korea lifted local market price.

Local electric furnaces’ scrap purchase price increased to 32,000-33,000 yen per tonne for H2 grade around Tokyo. Tokyo Steel’s Utsunomiya plant and other local makers increased the purchase price by 1,000 yen on Thursday.

The scrap exporters’ purchase price increased to FAS 33,000 yen per tonne for around Tokyo bay since last week. The supply gets tighter for local dealers and steel maker when the shipping increases for the export.

Local electric furnaces’ scrap purchase price is 30,000-31,000 yen per tonne for H2 grade around Osaka while some makers pay around 32,000 yen. JFE Bars & Shapes and Godo Steel increased the price for plants in Himeji on Thursday when Tokyo Steel increased the price.