Ferrous Scrap Price to Increase in Osaka, Tokyo

Ferrous scrap market price would increase from around 24,000 yen for H2 grade at the dealers’ purchase price around Osaka. The price is steady at around 24,500 yen per tonne for H2 grade, 26,300 yen for H1 grade and 28,000 yen for HS grade around Tokyo.

Local electric furnace steel makers pay 33,500-34,500 yen per tonne for H2 grade around Osaka and some makers pay around 35,500 yen. Kishiwada Steel increased the purchase price by 500 yen for turning scrap and by 700 yen for other grades on Thursday. Shinkansai Steel and Nakayama Steel Products increased the price by 500 yen for all grades on the day.

Local electric furnaces’ scrap purchase price is flat around Tokyo at 33,000-34,000 yen per tonne for H2 grade. The dealers see the scrap demand would increase when local makers try to secure the scrap to prepare for the operation in long holidays from late April.