Electric Furnaces Pay More for Ferrous Scrap

Electric furnace steel makers around Tokyo increase the ferrous scrap purchase price to 32,000-33,000 yen per tonne for H2 grade. Osaka’s electric furnaces also increased the purchase price by 500 yen to 33,500-35,000 yen for H2. The makers could increase the price additionally under firm export price.Utsunomiya plant of Tokyo Steel Manufacturing increased the purchase price by 500 yen to 34,000 yen per tonne for H2, 35,500 yen for new cutting scrap and to 27,500 yen for turning scrap on Saturday. Other local makers around Tokyo followed the move to increase the purchase price by 500-1,000 yen. Osaka Steel increased the purchase price by 1,500 yen to 34,000 yen per tonne for H2 on Thursday. Kishiwada Steel increased the price by 700 yen and other makers followed the move. Tokyo Steel increased the price by 500 yen to 36,500 yen per tonne for H2 at Okayama plant.