Ferrous Scrap Price Increases by 1,500 Y/T around Tokyo

Ferrous scrap price purchase price of dealers increased by 1,500 yen per tonne from the beginning of this month around Tokyo when electric furnace makers raised the purchase price of ferrous scrap. Dealers’ purchase price is around 19,000 yen per tone for H2, around 20,800 yen for H1 and around 22,500 yen for HS.

Electric furnace makers are continuing to reduce the output. On the other hand, ferrous scrap generation is decreasing from plant and market. Dealers’ export is continuing to East Asia from Tokyo bay. A dealer source said the demand for ferrous scrap is decreasing due to output reduction of electric furnace makers, but the supply and demand is bringing balance.

Each maker is raising the purchase price step by step, and increased to 25,500-26,500 yen per tonne by 1,000-2,000 yen from the beginning of this month and some pay as high as 27,000 yen.