Firm Ferrous Scrap Price in Tokyo

Ferrous scrap price is increasing at around 18,000 yen per tonne for H2, around 20,300 yen for H1 and around 22,000 yen for HS at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level. Local electric furnace steel makers apparently get lower scrap arrivals when the export shipping keeps high level. The market price is expected to increase more with outlook for tighter supply balance.Local electric furnaces pay 26,000-27,000 yen per tonne for H2. The purchase price is expected to increase with higher vessel shipping volume. Ferrous scrap price is firm at around 16,000 yen per tonne around Osaka.