Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is increasing at 21,100 yen per tonne for pressed new cutting scrap and 20,100 yen for new cutting scrap without press at dealers’ purchase price including freight around Tokyo. The price could keep firm. Local scrap supply is tight despite of the normal generation level when special steel electric furnace steel makers increase the purchase. Local electric furnace steels pay 27,000-28,000 yen per tonne for new cutting scrap. The purchase price increased by 3,250 yen or 13% from the bottom in early February. The purchase price is the level of export price and the dealers see the purchase price is likely not to decrease.