Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 47,600 yen per tonne for pressed new cutting scrap and at around 46,600 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm due to tight supply. Local electric furnace steel makers pay 51,500-53,500 yen per tonne for new cutting scrap, which is 1,500 yen higher than previous week. The price keeps increasing when the makers have low level scrap inventory under tight supply. The local scrap dealers try to secure the materials at higher price. Ferrous scrap market price is firm at around 42,000 yen per tonne for H2 grade around Osaka.