Firm Ferrous Scrap Price in Tokyo

Ferrous scrap price is firm at 15,400 yen per tonne for steel turning scrap, 18,400 yen for A grade pig iron turning scrap and 17,400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is expected to keep firm under the firm demand. Tokyo Steel Manufacturing increased the scrap purchase price by 500-1,300 yen per tonne for all scrap grades at all plants on November 29. The H2 purchase price increased to 31,000 yen per tonne for H2 at Utsunomiya plant, which is the record level at the plant. Local electric furnace steel makers around Tokyo pay around 20,000 yen per tonne for turning scrap and some pay as high as 24,500 yen. Ferrous scrap price is flat at around 19,000 yen per tonne for H2 grade around Osaka.