Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 43,000 yen per tonne for H2 grade, at around 46,300 yen for H1 and at around 48,300 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm with strong demand from integrated steel makers and makers in other areas. Local electric furnace steel makers pay 49,000-49,500 yen per tonne for H2 grade scrap and some makers pay as high as 50,000 yen. The makers increase the purchase price gradually to secure materials under tight supply. Tokyo Steel Manufacturing’s Utsunomiya plant and other makers increased the purchase price by 500 yen on Tuesday. Ferrous scrap market price is firm at around 42,000 yen per tonne for H2 grade around Osaka.