Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at 29,600 yen per tonne for pressed new cutting scrap and at 28,600 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under firm export transactions. Local electric furnace steel makers pay 33,000-34,000 yen per tonne for new cutting scrap and some pay as high as 35,500 yen. The market expects the market price will increase under firm export order. Some scrap dealers try to keep the scrap inventory with expectation for higher price. Ferrous scrap market price is firm at around 24,500 yen per tonne for H2 grade around Osaka.