Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at 25,000 yen per tonne for H2, 27,300 yen for H1 and 29,000 yen for HS grade at dealers’ purchase price including freight around Tokyo. The price is expected to keep firm when export shipping from Tokyo bay started to be active. Local electric furnace steel makers pay 31,500-32,000 yen per tonne for H2 grade scrap. A distributor said the local scrap supply could be tighter when Funabashi plant of Godo Steel restarted scrap purchase in the week after one and half month interval.