Higher Ferrous Scrap Price in Tokyo

Ferrous scrap market price increased by 500 yen per tonne from last week around Tokyo. The price is around 25,100 yen per tonne for pressed new cutting scrap and 24,100 yen for new cutting grade without press at dealers’ purchase price including freight. Local electric furnace steel makers increased their purchase price of ferrous scrap by over 3,000 yen per tonne in September. Dealer source said their purchase price could rise with the increase in their production. The price is expected to keep firm in near future. Local electric furnace steel makers around Tokyo pay 29,500-30,000 yen for new cutting scrap and some pay as high as 31,000 yen. Electric furnace steels around Tokyo increased the scrap purchase prices by 1,000 yen per tonne from last week when scrap export FAS price from Tokyo bay increased. They pay 27,500-28,000 yen for H2 and some pay as high as 29,500 yen. Stainless scrap price for SUS 304 increased at around 180,000 yen per tonne for new cutting scrap at dealers’ purchase price including freight and at 180,000 yen for turning scrap around Osaka.