Strong Ferrous Scrap Price in Tokyo and Osaka

Ferrous scrap price would increase from around 21,500 yen per tonne for H2 grade, 23,300 yen for H1 grade and 25,000 yen for HS grade at the dealers’ purchase including freight around Tokyo. Local electric arc furnace steel makers’ purchase price is 27,500-28,500 yen for H2 grade, which is 1,500 yen higher than last week price. Some makers pay 29,000 yen.

Some electric furnace steels increased the purchase price. The market price increases not so much. However, scrap supply tight due to the export and the market price would increase more, one dealer source said.

Ferrous scrap price is increasing around Osaka. The market price is around 20,000 yen per tonne for H2 grade at the dealers’ purchase. Local electric furnaces’ purchase price is 27,000-28,000 yen for H2 grade while some pay 30,000 yen.