Firm Ferrous Scrap Market in Tokyo

Ferrous scrap market price is firm at 32,600 yen per tonne for pressed new cutting scrap and at 31,600 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to increase under firm export price. Local electric furnace steel makers pay 36,500-37,000 yen per tonne for new cutting grade scrap and some pay as high as 37,500 yen. The makers increase the purchase price again and again. Most of the local makers increased the purchase price by 1,000 yen in the week as last week. Local scrap dealers expect the makers will increase the purchase price more. Ferrous scrap market price is also firm at around 27,000 yen per tonne for H2 grade around Osaka.