Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 21,100 yen per tonne for pressed new cutting scrap and around 20,100 yen for new cutting scrap without press at the dealers’ purchase price including freight around Tokyo. The price is likely to keep firm due to tight supply.

Local electric furnace steel makers pay 26,000-27,500 yen per tonne for new cutting scrap. The supply balance is tight due to low level supply while the consumption is also low due to major production cut by the steel makers. A dealer source said the market indicates the tight supply could continue.

Ferrous scrap market price is firm at around 16,500 yen per tonne for H2 grade around Osaka. Local electric furnace steel makers pay 23,000-24,000 yen and some makers pay higher.