Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at 25,500 yen per tonne for H2, at 27,800 yen for H1 and at 29,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under tight supply. Local electric furnace steel makers pay 32,500-33,000 yen per tonne for H2 grade scrap after they increased the price since late last week. A dealer source said scrap arrivals at steel makers could worsen than before under tighter supply when scrap shipping increases from Tokyo bay and Godo Steel’s Funabashi plant restarted the scrap purchase. Ferrous scrap market price is firm at around 24,000 yen per tonne for H2 grade around Osaka.