Tokyo Steel’s Hike to Lift Ferrous Scrap Price in Tokyo

Ferrous scrap price is increasing around Tokyo. The market price is around 20,500 yen per tonne for H2 grade at dealers purchase price including freight while the price is around 22,300 yen for H1 grade and around 24,000 yen for HS grade. The purchase price by local electric furnace steel makers is 27,000-28,000 yen.

The dealers increased the purchase price by 2,000-3,000 yen per tonne in July from June when the local electric furnace steels hiked the purchase price due to the export price increase and tight scrap supply. Market sources forecast the market tone would be firm when the export price remains high.

Tokyo Steel Manufacturing revised up the purchase price by 500 yen per tonne at Okayama plant, Kyushu plant and Takamatsu plant while the firm increased the price by 1,000 yen at Utsunomiya plant for 4 August arrival, announced on Monday. The revised purchase price for H2 grade is 29,500 yen at Okayama while the price is 28,500 yen at Kyushu, 29,000 yen at Takamatsu and 29,500 yen at Utsunomiya. The purchase price at Okayama is 1,000 yen higher for ocean transport.