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.Ferrous scrap supply is tightening gradually this month. Some dealer sources say the market price would not decline according to the successful bid at Kanto Tetsugen held last week.Electric furnace steel makers around Tokyo purchase ferrous scrap at 23,500-24,500 yen per tonne for H2. However, makers seem to hold overstock against their consumption.In Osaka, ferrous scrap price is firm at around 15,500 yen per tonne for H2.