Turning Scrap Price Increases in Tokyo

Turning scrap price maintains strong in Tokyo. It is around 9,900 yen per tonne for steel turning scrap, around 12 ,900 yen per tonne for pig iron turning scrap A and around 11,900 yen for pig iron turning scrap B at dealers’ purchasing price including freight.The export price of ferrous scrap is below FAS 22,000 yen per tonne for H2 around Tokyo Bay, while there seem some shipments at over 23,000 yen per tonne under the tight supply of ferrous scrap. The purchasing price of ferrous scrap at local electric furnace steel makers is also increasing to 23,500-24,000 yen per tonne for H2. The supply is fairly tight in the bay area. Turning scrap price is expected to maintain the strong tone for a while.