Ferrous Scrap Price Increases by 1,000 y/t around Tokyo

The market price of ferrous scrap rose by 1,000 yen per tonne from the last week, and is 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.Scrap shipping price from Tokyo bay increases after electric furnace steels in western Japan increased the scrap purchase prices. The shipping price from Tokyo bay is around FAS 26,500 yen per tonne.It is expected the ferrous scrap market price rise around Tokyo because each maker’s scheduled refinement in summer finished.Local steels pay 25,500-26,000 yen for H2 grade.