Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 19,100 yen per tonne for pressed new cutting scrap and at around 18,100 yen for new cutting grade without press at the dealers’ purchase price including freight around Tokyo. The price is likely to keep firm when the supply could get tighter depending on the demand in China and South Korea after Chinese New Year holiday.

Local electric furnace steel makers pay 23,000-24,500 yen per tonne for new cutting scrap. The makers expand the production cut reducing the scrap consumption. However, the local dealers around Tokyo will ship scrap from Tokyo bay for existing export contract in February while the new export transaction is slow recently when Japanese scrap price increased since mid-January.

Ferrous scrap market price is flat at around 13,000-14,000 yen per tonne for H2 grade around Osaka. Local steel makers including Kishiwada Steel, Godo Steel and Osaka Steel increased the scrap purchase price by 1,000-2,000 yen for H2 grade from Tuesday to Thursday. The averaged purchase price by steel makers increased to 20,000 yen level.