Firm Ferrous Scrap Price in Tokyo

Ferrous scrap price is increasing at around 16,500 yen per tonne for H2 grade, around 18,500 yen for H1 and around 20,500 yen for HS at dealers’ purchase price including freight around Tokyo. Scrap price increases depending on areas after local electric furnace steel makers increased the purchase price to prepare for output increase in a week long holiday. Local electric furnaces pay 25,000-26,000 yen per tonne for H2. Some industry interests expect export scrap shipping will increase in and after next week. The price is likely to keep firm after the holiday.