Higher Ferrous Scrap Price in Tokyo

Ferrous scrap price rose by 500 yen per tone from last week 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. Local electric furnace steel makers around Tokyo increased the scrap purchase prices by 500 yen per tonne from last week. They purchases ferrous scrap in a positive way with their production increase. They pay 28,000-29,000 yen for H2 and some pay as high as 30,000 yen. The market price is expected to keep strong tone for a while.