Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 43,400 yen per tonne for steel turning scrap, at around 46,400 yen for A grade pig iron turning scrap and at around 45,400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. Tee price is likely to keep firm under tight supply. Local electric furnace steel makers pay 48,500-49,000 yen per tonne for turning scrap and some makers pay as high as 52,500 yen. Tokyo Steel Manufacturing’ Utsunomiya plant increased the price by 1,000 yen on Tuesday. Other makers followed the move. The dealers expect the makers could increase the purchase price more to secure the material. Ferrous scrap market price is flat at around 49,500 yen per tonne for H2 grade around Osaka.