Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 46,900 yen per tonne for steel turning scrap, at around 49,900 yen for A grade pig iron turning scrap and at around 48,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm when local steel makers try to build scrap inventory to keep operation during a week long holiday through May 6. Local electric furnace steel makers pay 52,000-53,500 yen per tonne for turning scrap and some makers pay as high as 56,000 yen. Local makers increased the purchase price by around 7,000 yen during April. The dealers expect the price could increase under tight supply. Ferrous scrap market price is firm at around 52,500 yen per tonne for H2 grade around Osaka.