Firm Ferrous Scrap Price in Tokyo

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

Local electric furnace steel makers pay 23,000-24,500 yen per tonne for new cutting scrap. Tokyo Steel Manufacturing and other makers increased the purchase price by 1,000 yen on Wednesday. They try to encourage the dealers to ship more for local steel makers under tight supply from the market.

Ferrous scrap market price is firm at around 11,000 yen per tonne for H2 grade around Osaka.