Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 35,000 yen per tonne for H2, at 37,300 yen for H1 and at 39,000 yen for HS grade at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm with increasing export price from Tokyo bay. Local electric furnace steel makers pay around 39,500-41,000 yen per tonne for H2 grade scrap and some makers pay as high as 42,000 yen. The makers including Tokyo Steel Manufacturing increased the purchase price by around 4,000-5,000 yen in a month to build scrap inventory preparing for yearend and New Year holiday along with competition with export price. Ferrous scrap market price is firm at around 32,500 yen per tonne for H2 around Osaka.