Ferrous Scrap Price Rises by 500 yen/t in Tokyo

Ferrous scrap price increased by 500 yen to 23,100 yen per tonne for pressed new cutting scrap and 22,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is expected to increase more toward the demand season. Local electric furnace steel makers increased the scrap purchase price by around 500 yen per tonne in the week. They pay 28,000-28,500 yen per tonne for new cutting scrap and some pay as high as around 29,000 yen. Scrap shipping FAS price from Tokyo bay also increased by more than 1,000 yen both for domestic and export shipment from August. Ferrous scrap price also firm at around 17,000 yen per tonne for H2 around Osaka.