Ferrous Price to Increase in Tokyo and Osaka

Ferrous scrap price is flat with strong tone at 18,000 yen per tonne for H2 grade, 19,800 yen for H1 grade and 21,500 yen for HS grade at the dealers’ purchase including freight around Tokyo. Local electric furnace steel makers’ purchase price is 24,000-25,000 yen per tonne for H2 grade while some makers pay as high as around 25,500 yen.

Tokyo Steel Manufacturing increased the purchase price by 1,000 yen on Thursday and other local electric steels followed the price increase. Ferrous scrap supply became tight due to the backlog for export. However, the production of electric steels remains low. One trade firm source said ferrous scrap market price may turn downward soon.

The purchase price by dealers is increasing to around 17,500 yen per tonne for H2 grade around Osaka. Electric steels’ purchase price is around 24,500-25,500 yen per tonne for H2 grade while higher price is around 26,500 yen.