Firm Ferrous Scrap Price in Tokyo

Ferrous scrap price is firm at 22,600 yen per tonne for pressed new cutting scrap and 21,600 yen for new cutting scrap without press at dealers’ purchase price including freight around Tokyo. The price is expected to keep firm when local electric furnace steel makers expand the output after summer time maintenance outage. Scrap shipping price from Tokyo bay increases for domestic shipment when electric furnaces around Osaka increased the scrap purchase price. The shipping price is around FAS 27,000 yen per tonne from Tokyo bay. Electric furnaces are also expected to increase the scrap purchase price. They now pay 27,500-28,000 yen per tonne for new cutting scrap. Some pay as high as 28,500 yen.