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 under tight supply. Local electric furnace steel makers pay 54,500-56,500 yen per tonne for new cutting scrap. Tokyo Steel Manufacturing’s Utsunomiya plant and other local makers increased the purchase price by 1,000 yen on Wednesday. They try to secure the materials under tight supply competing with integrated steel makers and makers in Osaka and other areas. The supply is expected to keep tight despite of the end of fiscal year, when many scrap suppliers liquidate the scrap inventory normally. Ferrous scrap market price is accelerated to increase around Osaka from current 43,000 yen per tonne level for H2 grade.