Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 42,600 yen per tonne for pressed new cutting scrap and at around 41,600 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm when local electric furnace steel makers increase the purchase price. Local makers pay 46,500-47,500 yen per tonne for new cutting scrap and some makers pay as high as 48,000 yen. The makers increased the price by 1,000-1,500 yen from last week. The scrap dealers also increased the purchase price by 1,000 yen to secure the materials under tight supply. Ferrous scrap market price is firm at around 38,000 yen per tonne for H2 grade around Osaka.