Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 58,100 yen per tonne for pressed new cutting scrap and at around 57,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm with strong demand. Local electric furnace steel makers pay 63,500-64,500 yen per tonne for new cutting scrap and some makers pay as high as 65,000 yen. Local makers try to build inventory preparing for higher operation during a week long holiday in early May. Domestic integrated steel makers also try to secure the material supporting the strong market. Ferrous scrap market price is firm at around 52,500 yen per tonne for H2 grade around Osaka.