Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price increased to 13,100 yen per tonne for pressed new cutting scrap and 12,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is expected to keep firm due to higher shipping from Tokyo bay.

Local electric furnace steel makers pay 17,000-18,500 yen per tonne for new cutting scrap. The price increased for the first time in a week when Tokyo Steel Manufacturing’s Utsunomiya plant increased the price by 2,000 yen and other makers followed the move. The supply is still tight and the dealers ship more for coastal yards instead of local steel makers.

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