Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 54,000 yen per tonne for H2, at around 56,300 yen for H1 and at around 58,000 yen for HS grade at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under strong export price. Local electric furnace steel makers pay 61,500-62,500 yen per tonne for H2 grade and some makers pay as high as 63,500 yen. The supply is tight with strong demand from integrated steel makers. Some electric furnace steel makers increased the purchase price last week. Ferrous scrap market price is firm at around 53,500 yen per tonne for H2 grade around Osaka.