Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 16,100 yen per tonne for pressed new cutting scrap and at around 15,100 yen for new cutting grade 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 20,000-21,500 yen per tonne for new cutting scrap. The makers reduce the purchase volume when they reduce the steel making operations. However, the scrap supply is tight for high grade scrap including new cutting grade and the FAS price from Tokyo bay is higher than purchase price by local steel makers. The price gap encourages the dealers to ship more materials for coastal yards.

Ferrous scrap market price is flat at around 8,000 yen per tonne for H2 grade around Osaka.