Ferrous Scrap Price Rises by 500 yen/t in Tokyo

Ferrous scrap price increased by 500 yen per tonne for turning scrap around Tokyo. The price is 12,900 yen per tonne for steel turning scrap, 15,900 yen for A grade pig iron turning scrap and 14,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight. The price is expected to keep firm when local electric furnace steel makers increase the output. Japanese scrap export price increased by 2,030 yen to FAS 27,300 yen per tonne for H2 at export tender for October shipment held by Kanto Tetsugen on Tuesday from previous month. The increase was the first time in 4 months. The scrap shipping price is expected to be more than FAS 27,000 yen from Tokyo bay. Local electric furnace steels pay 19,500-20,000 yen per tonne for turning scrap. Ferrous scrap price is firm at around 17,000 yen per tonne for H2 grade around Osaka.