Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 55,900 yen per tonne for steel turning scrap, at around 58,900 yen for A grade pig iron turning scrap and at around 57,900 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 60,000-65,000 yen per tonne for turning scrap. The steel makers keep the price level since end of June after aggressive increase before. The dealers expect the makers could increase the price level under tight supply depending on the market condition. Ferrous scrap market price is firm at around 62,500 yen per tonne for H2 grade around Osaka.