Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at 26,900 yen per tonne for steel turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm when local electric furnace steel makers increase the output. Local electric furnace steel makers pay 30,500-31,500 yen per tonne for turning scrap and some makers pay as high as 35,000 yen. The market price increased by around 4,000 yen during the month. The dealers try to secure the materials by increasing the purchase price to reflect higher purchase price by steel makers. Ferrous scrap market price is firm at around 29,000 yen per tonne for H2 grade around Osaka.

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