Firm Ferrous Scrap Price in Tokyo

Ferrous scrap price is firm at 12,400 yen per tonne for steel turning scrap, at 15,400 yen for A grade pig iron turning scrap and 14,400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is expected to keep firm when local electric furnace steel makers increase the output toward demand season. Local electric furnaces increase the scrap purchase prices to secure more scrap. Local makers pay 19,000-19,500 yen per tonne for turning scrap. Local dealers expect scrap price will increase toward autumn when local makers increase the output after summer time maintenance outage. Ferrous scrap price is also firm at around 17,000 yen per tonne for H2 around Osaka.