Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 36,000 yen per tonne for H2, at around 38,300 yen for H1 and at around 40,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under tight supply. Local electric furnace steel makers pay 42,000-43,500 yen per tonne for H2 and some makers pay as high as 45,000 yen. The makers increased the purchase price by total 5,000 yen since mid-September. However, a dealer source said the scrap supply to the makers is still low level despite of the higher price. Ferrous scrap market price is firm at around 37,000 yen per tonne for H2 around Osaka.