Ferrous Scrap Price keeps Strong Tone in Tokyo

Ferrous scrap price keeps strong tone around Tokyo. The dealers’ purchase price is around 21,500 yen per tonne for H2, 23,800 yen for H1 and 25,500 yen for HS including freight. The price is expected to increase with higher export price. Ferrous scrap is flowing to electric furnace makers around Tokyo because departure of export vessel is less from Tokyo bay in this week. It seems that the purchase of it by them is fine. In recently, they pay around 28,500 yen for H2 and some pay as high as 30,000 yen. They are purchasing of ferrous scrap in a positive way with the increase in their production. Ferrous scrap price is continuing to be strong tone around Osaka. The dealers’ purchase price is around 17,000 yen per tonne for H2 including freight.