Turning Steel Scrap Price Ups by 500 yen in Tokyo

Ferrous scrap market price increased by 500 yen to 11,400 yen per tonne for steel turning scrap, 14,400 yen for A grade pig iron turning scrap and to 13,400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price increased by total 3,500 yen per tonne or 44% from bottom in early February. The turning scrap export shipping increases recently and the higher export results in tighter local supply. Local electric furnace steel makers pay 18,000-19,500 yen per tonne for steel turning scrap and are willing to pay more when they get smaller scrap arrivals under tight supply. Ferrous scrap price also increased by 500 yen to around 16,000 yen per tonne for H2 in Osaka after local electric furnace steels increased the purchase prices by earlier the week.