Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at 38,100 yen per tonne for pressed new cutting scrap and at 37,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is expected to increase more under tight supply condition and pressure by higher scrap export price to Asia. Local electric furnace steel makers pay 42,000-43,000 yen per tonne for new cutting scrap and some makers pay as high as 44,000 yen. Local dealers try to secure scrap materials to meet higher consumption by local steel makers though the local scrap generation is low level. Ferrous scrap market price is firm at around 29,000 yen per tonne for H2 grade around Osaka.