Firm Scrap Price around Tokyo

New cutting ferrous scrap price is increasing at 20,600 yen per tonne for pressed new cutting grade and 19,600 yen for products without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm. The supply is moving from tight to normal level when automobile and appliances plants restarted the operations after a week long holiday. Local electric furnace steel makers pay 26,500-27,500 yen per tonne for new cutting scrap. The price has chance to increase more but the makers’ appetite is decreasing than before. Ferrous scrap price is 15,500 yen per tonne for H2 grade around Osaka. The price could increase more though buyers watch the market move.