Higher Ferrous Scrap Price in Tokyo

Ferrous scrap price increased by 1,000 yen per tone from last week around Tokyo. The dealers’ purchase price is around 21,000 yen per tonne for H2, 23,300 yen for H1 and 25,000 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 1,000 yen per tonne from last week when scrap export FAS price from Tokyo bay increased. They pay 27,500-28,000 yen for H2 and some pay as high as 29,500 yen.