Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 28,900 yen per tonne for steel turning scrap, at around 31,900 yen for A grade pig iron turning scrap and at around 30,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under tight supply. Local electric furnace steel makers pay 34,000-35,000 yen per tonne for turning scrap and some makers pay as high as 38,500 yen. The dealers also increase the purchase price to secure materials from the market. The dealers said they are forced to increase the purchase price when the scrap supply is low level and steel makers increase the purchase price. Ferrous scrap market price is firm at around 37,000 yen per tonne for H2 grade around Osaka.