Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at 38,100 yen per tonne for pressed new cutting scrap and at 37,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under firm scrap export price from Tokyo bay. Local electric furnace steel makers pay 41,500-42,000 yen per tonne for new cutting scrap and some makers pay as high as 43,000 yen. Scrap shipping FAS price from Tokyo bay under higher export price and Osaka market. A dealer source said the scrap arrival to local electric furnace decreases when the dealers ship more for export and shipping for other areas from Tokyo bay. Ferrous scrap price increased by 2,500 yen or 6% in the month to 39,500-42,500 yen per tonne for H2 grade at electric furnace steel makers’ purchase price around Osaka. The dealers’ purchase price also increased by 2,000 yen to 32,500 yen.