Firm Ferrous Scrap Price in Tokyo

Ferrous scrap price is increasing in Tokyo at around 16,500 yen per tonne for H2, around 18,500 yen per tonne for H1 and around 20,500 yen per tonne for HS at dealers’ purchase price including freight.The market price of ferrous scrap seems to increase this week partly when local electric furnace steel makers keep operation during the holiday period in May. The price is likely to increase more toward early May.Electric furnace steel makers around Tokyo purchase ferrous scrap at 24,500-26,000 yen per tonne for H2. Some dealers expect makers would hike their purchase price by 500-1,000 yen per tonne further at the end of April.In Osaka, ferrous scrap price keeps flat with potential increase at around 15,500 yen per tonne for H2.