Firm Ferrous Scrap Price around Tokyo

Ferrous scrap price is increasing at 10,900 yen per tonne for steel turning scrap and at 13,900 yen for A grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. Local electric furnace steel makers pay 16,000-17,000 yen per tonne for turning scrap. The price is likely to keep firm. Local turning scrap supply is relative tight after automobile and appliances makers idled local plant during a week long holiday in early May. Scrap export price increased for 4 consecutive months at tender held by Kanto Tetsugen. Turning scrap shipping price at FAS increased temporally last week and other grade scrap FAS price also increases. The market price is increasing at 15,500 yen per tonne for H2 grade around Osaka.