Ferrous Scrap Price Ups by 500 yen in Tokyo

Ferrous scrap price increased by 500 yen from last week to around 17,500 yen per tonne for H2 grade, around 19,800 yen for H1, around 21,500 yen for HS at dealers’ purchase price including freight around Tokyo. The price could increase when local electric furnace steel makers increase the purchase prices. The price increased by total 4,000 yen per or 30% for H2 since recent bottom in early February. Dealer’s sources said the price could keep the level until mid-June. Local electric furnace steel makers pay 25,000-26,000 yen per tonne for H2 grade and the price increases. After Tokyo Steel Manufacturing hiked the purchase price, other local makers increased the prices by 500-1,000 yen. Scrap price is also increasing at 15,500 yen per tonne for H2 around Osaka.