Ferrous scrap price increased by 500 yen from previous week to 16,900 yen per tonne for steel turning scrap, 19,900 yen for A grade pig iron turning scrap and 18,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is expected to move higher when local electric furnace steel makers increase the scrap purchase price.
Local steel makers try to secure more scrap preparing for yearend holiday along with competition with export shipping price. Local scrap industry interests expect the market price could increase more when makers increase the scrap purchase and export price increases. Ferrous scrap price is also firm at 20,000 yen per tonne for H2 grade around Osaka.Japan Steel Scrap Composite Prices (Sangyo Press)
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