Firm Ferrous Scrap Price in Tokyo

Ferrous scrap price continues to be firmer tone at around 20,100 yen per tonne for pressed new cutting scrap and around 19,100 yen for new cutting scrap without press at dealers’ purchase price including freight in Tokyo.Electric furnace steel makers around Tokyo purchase new cutting scrap at 26,000-27,000 yen per tonne. Tokyo Steel Manufacturing’s Utsunomiya plant hiked the purchase price of pressed new cutting scrap by 1,000 yen per tonne to 28,000 yen from Thursday.Scrap dealers delay the shipment of ferrous scrap under expectation for higher price. The local supply keeps tight. Both market price and manufacture’s purchase price would be increasing toward a week long holiday.In Osaka, ferrous scrap price is flat with firmer tone at around 15,500 yen per tonne for H2.