July 25, 2008

Firm ferrous scrap prices in Tokyo

JMB reported that ferrous scrap market price is firm at around JPY 54,000 per tonne for H2 grade at dealers' purchase price including freight around Tokyo.

As per report local electric furnace steel makers pay JPY 59,500 to JPY 62,500 for H2. The price could increase more when the shipping FAS price from Tokyo bay also increases and integrated steel makers increase the purchase volume.