Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 29,900 yen per tonne for steel turning scrap, at 32,900 yen for A grade pig iron turning scrap and at around 31,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm with higher export price from Tokyo bay. Local electric furnace steel makers pay 34,000-35,000 yen per tonne for turning scrap and some makers pay as high as 37,000 yen. The makers increased the purchase price by 2,000-3,000 yen during the month to compete with higher export price. A dealer source said the price increase pace slows but the supply keeps tight in the local market. Ferrous scrap market price is firm at around 35,000 yen per tonne for H2 grade around Osaka.