Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 29,400 yen per tonne for steel turning scrap, at around 32,400 yen for A grade pig iron turning scrap and at around 31,400 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 around 34,000-35,000 yen per tonne for turning scrap and some pay as high as 37,000 yen. The steel makers and local scrap dealers increase the purchase price when the scrap supply keeps low level around Tokyo. Ferrous scrap market price is also firm at around 34,500 yen per tonne for H2 grade around Osaka.