Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 37,400 yen per tonne for steel turning scrap, at around 40,400 yen for A grade pig iron turning scrap and at around 39,400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under tight supply. Local electric furnace steel makers pay 42,500-43,500 yen per tonne for turning scrap and some makers pay as high as 45,500 yen. The makers get lower scrap arrivals under tight local supply. Tokyo Steel Manufacturing’ Utsunomiya plant and other makers increased the purchase price on Tuesday. Ferrous scrap market price is firm at around 42,000 yen per tonne for H2 grade around Osaka.