Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 51,900 yen per tonne for steel turning scrap, at around 54,900 yen for A grade pig iron turning scrap and at around 53,900 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 58,000-59,000 yen per tonne and some makers pay as high as 61,000 yen for turning scrap. The purchase price increased by 1,000-2,000 yen per tonne in the month. Local dealers expect the price could increase more due to strong demand. Ferrous scrap market price is firm at around 55,000 yen per tonne for H2 grade around Osaka.