Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 58,100 yen per tonne for pressed new cutting scrap and at around 57,100 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 63,500-64,500 yen per tonne for new cutting scrap and some makers pay as high as 66,000 yen. Tokyo Steel Manufacturing increased the purchase price by 1,000 yen on Saturday but other makers keep the price level as of Monday. Ferrous scrap market price is also firm at around 53,500 yen per tonne for H2 grade around Osaka.