Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 19,000 yen per tonne for H2, 21,300 yen for H1 and 23,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is expected to increase more toward demand season. Tokyo Steel Manufacturing increased the scrap purchase price by 1,000 yen per tonne for turning scrap and by 500 yen for other grades at Utsunomiya plant on Tuesday. The purchase price increased to 28,000 yen for H2. Some of other local electric furnace steel makers followed the move. They pay averaged 26,500-27,000 yen for H2. Scrap price is also firm at around 17,000 yen per tonne for H2 around Osaka.