Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 62,100 yen per tonne for pressed new cutting scrap and at around 61,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under tight supply. Local electric furnace steel makers pay 67,000-68,000 yen per tonne for new cutting scrap and some makers pay as high as 69,000 yen. The makers’ arrival is still lower despite of the higher price. The dealers manage to secure the materials enough to the demand under tight supply. Ferrous scrap market price is firm at around 54,000 yen per tonne for H2 grade around Osaka.