Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firma 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 pay 72,000-74,000 yen per tonne for new cutting scrap. Domestic special steel makers and integrated steel makers increase the scrap purchase to increase the output. Electric furnace steel makers around Osaka also purchase from Tokyo. The higher demand impacts on local electric furnaces’ procurement. Ferrous scrap market price is firm at around 61,500 yen per tonne for H2 grade around Osaka.