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 23,600 yen per tonne for pressed new cutting scrap and 22,600 yen for new cutting grade without press at dealers’ purchase price including freight. The price is expected to keep firm toward the demand season. Local electric furnace steel makers pay 28,500-29,000 yen per tonne for new cutting scrap. Some pay as high as 29,500 yen. The price increased by 1,000-1,100 yen in the month. They try to secure scrap when scrap shipping price from Tokyo bay increases. Ferrous scrap price is around 17,000 yen per tonne for H2 around Osaka while some market interests expect the price keeps the level despite of firm mood.