Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 25,900 yen per tonne for steel turning scrap, at around 28,900 yen for A grade pig iron turning scrap and at around 27,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep increase when the scrap export price from Tokyo bay increases. Local electric furnace steel makers pay 31,000-32,000 yen per tonne for turning scrap and some makers pay as high as 33,000 yen. Some steel makers increased the scrap purchase price by 1,000-2,000 yen last week. They apparently try to build scrap inventory toward yearend and new year holiday when scrap supply stops. Ferrous scrap market price increased by 1,000 yen to around 30,500 yen per tonne for H2 grade around Osaka in a week.