Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 49,900 yen per tonne for steel turning scrap, at around 52,900 yen for A grade pig iron turning scrap and at around 51,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm with strong demand at home and abroad. The local electric furnace steel makers pay 56,000-57,000 yen per tonne for steel turning scrap and some makers pay as high as 59,000 yen. The dealers also increased the purchase price by 3,000 yen in May to secure the materials. A dealer source said the electric furnace steel makers could increase the purchase price more to keep the operations under tight scrap supply. Ferrous scrap market price is flat at around 53,500 yen per tonne for H2 grade around Osaka.