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’ purchaser price including freight around Tokyo. The price is likely to keep firm under tight supply. Local electric furnace steel makers pay 60,000-62,000 yen per tonne for turning scrap and some makers pay as high as 65,000 yen. Tokyo Steel Manufacturing increased the ferrous scrap purchase price by 1,000 yen at Okayama on Tuesday while the Utsunomiya plant kept the price. However, the scrap dealers expect the higher price in western Japan could lift the shipping price level from Tokyo bay. Ferrous scrap market price is firm at around 61,500 yen per tonne for H2 grade around Osaka.