Higher Ferrous Scrap Price in Tokyo

Ferrous scrap market price increased by 500 yen to 13,400 yen per tonne for steel turning scrap, 16,400 yen for A grade pig iron turning scrap and 15,400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is expected to increase more toward the demand season. Local electric furnace steel makers increased the scrap purchase price by around 500 yen per tonne. They pay around 20,000 yen per tonne for turning scrap. The market price is expected to keep firm both for dealers’ purchase price and steel makers’ purchase price. Ferrous scrap price is also firm at around 17,000 yen per tonne for H2 grade around Osaka.