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 the level with higher export price. Local electric furnace steel makers pay 42,000-43,000 yen per tonne for new cutting scrap and some makers pay as high as 44,000 yen. The scrap export price is higher for new cutting grade than purchase price by local makers and the dealers tend to ship for yard in bay area. Higher demand from domestic integrated steel makers also supports the price. Local dealers expect the local supply could get tighter. Ferrous scrap market price is flat at around 29,000 yen per tonne for H2 grade around Osaka.