Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 67,100 yen per tonne for pressed new cutting scrap and at around 66,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under tight supply. Local electric furnace steel makers pays 72,000-74,000 yen per tonne for new cutting scrap. The makers could be forced to keep the high purchase price when domestic integrated steel makers try to secure more scrap despite of the seasonal output reduction by electric furnaces. Ferrous scrap market price is firm at around 62,500 yen per tonne for H2 grade around Osaka.