Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 18,100 yen per tonne for pressed new cutting scrap and at around 17,100 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 higher scrap shipping price from Tokyo bay.

Local electric furnace steel makers pay 22,000-23,500 yen per tonne for new cutting scrap. The makers increased the purchase price by around 2,000 yen last week when they try to encourage the dealers to ship more for the makers under lower supply level. The dealers tend to ship the materials for coastal yards when the shipping FAS price from Tokyo bay is higher than purchase price by steel makers.

Ferrous scrap market price is firm at around 9,500 yen per tonne for H2 grade around Osaka.