Firm Ferrous Scrap in Tokyo

Ferrous scrap market price is 19,100 yen per tonne for pressed new cutting scrap and 18,100 yen for new cutting scrap without press at the dealers’ purchase price including freight around Tokyo. The price is likely to keep firm due to higher export price.

Local electric furnace steel makers pay 23,000-24,500 yen per tonne for new cutting scrap. The demand is expected to keep slow when local steel makers keep the production cut. However, the dealers ship the scrap more for coastal yard dealers instead for local steel makers when the export FAS price is 1,000-2,000 yen higher than local makers’ purchase price.

Ferrous scrap market price keeps firm at around 12,000 yen per tonne for H2 grade around Osaka. Local electric furnace steel makers pay 17,500-19,000 yen per tonne for H2 grade. The price is expected to increase more when Kishiwada Steel raised the purchase price by 2,000 yen on Tuesday.