Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 50,600 yen per tonne for pressed new cutting scrap and at around 49,600 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm when the supply is expected to keep tight within the month. Local electric furnace steel makers pay 55,500-56,500 yen per tonne for new cutting scrap and some makers pay as high as 58,000 yen. Some of the makers reduced the purchase price in the week. However, the scrap demand is still strong especially for high grade scrap from integrated steel makers and special steel makers.