Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 38,600 yen per tonne for pressed new cutting scrap and at around 37,600 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 around 42,000-42,500 yen per tonne for new cutting scrap and some makers pay as high as 43,500 yen. Local makers try to build scrap inventory even at higher price to prepare for a week long yearend holiday. The dealers also increase the scrap purchase price to secure the materials. Ferrous scrap market price is also firm at around 32,500 yen per tonne for H2 grade around Osaka.