Ferrous Scrap Price Rises by 500-1,000 Yen/t, Tokyo

Electric furnace asteel makers’ ferrous scrap purchase price increased by 500-1,000 yen per tonne to 25,500-26,500 yen for H2 grade from last week around Tokyo. Some pay as high as 27,000 yen. Makers’ purchase price increased by 3,000-4,000 yen per tonne from last month. Electric furnaces are reducing scrap purchase volume, but local supply and demand balance keeps tight when ferrous scrap dealers’ supply volume is low.

Ferrous scrap generation volume is decreasing from market and factory. Scrap dealers’ purchase volume is decreasing. On the other hand, exporters continue active scrap shipment to East Asia.

Utsunomiya works of Tokyo Steel Manufacturing raised the purchase price by 500 yen per tonne to 27,000 yen for H2 grade on Wednesday. Other makers followed the hike, too.