Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 46,500 yen per tonne for H2 grade, at around 49,800 yen for H1 and at around 50,100 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under higher export price. Local electric furnace steel makers pay 52,500-56,500 yen per tonne for H2 scrap. The price increases when domestic integrated steel makers increase the purchase. Under tight supply, the electric furnaces are expected to increase the purchase price. Ferrous scrap market price is firm at around 44,000 yen per tonne for H2 grade around Osaka.