Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 57,000 yen per tonne for H2, at around 59,300 yen for H1 and at around 61,000 yen for HS grade at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm with strong demand at home and abroad. Local electric furnace steel makers pay 63,500-64,500 yen per tonne for H2 grade and some makers pay as high as 65,500 yen. The steel makers are expected to increase the price more when domestic integrated steel makers increase the purchase volume and scrap export price from Tokyo bay increases for East Asian buyers. Ferrous scrap market price is firm at around 53,500 yen per tonne for H2 grade around Osaka.