Ferrous Scrap Price to Increase in Japan

Ferrous scrap price keeps flat with potential increase in Tokyo at around 24,600 yen per tonne for pressed new cutting scrap and at around 23,600 yen for new cutting grade without press at dealers’ purchase price including freight.Utsunomiya works of Tokyo Steel Manufacturing raised the purchasing price by 500 yen for all ferrous scrap effective on Thursday. Its purchasing price became to 30,000 yen per tonne for H2 grade, which reached 30,000 yen for the first time at Utsunomiya.Local electric furnace steel makers purchase new cutting ferrous scrap at 29,000-29,500 yen per tonne currently. The highest price is around 31,000 yen.Ferrous scrap price also keeps flat with potential increase in Osaka at around 17,000 yen per tonne for H2 grade.