Firm Ferrous Scrap Price in Tokyo

Ferrous scrap price maintains firm in Tokyo. The price is around 20,100 yen per tonne for pressed new cutting scrap and around 19,100 yen per tonne for new cutting scrap without press at dealers’ purchase price including freight.The market price is increasing gradually after local electric furnace steel makers including Tokyo Steel Manufacturing hiked their purchase prices of ferrous scrap last week. Dealer source said that the strong trend could continue after the holiday period in May.Electric furnace steel makers around Tokyo purchase new cutting scrap at 26,000-27,000 yen per tonne. The export price for new cutting scrap is around FAS 25,000-26,000 yen per tonne. The price seems to increase more.In Osaka, ferrous scrap price is flat with firmer tone at around 15,500 yen per tonne for H2.