Ferrous New Cutting Scrap Price Increases in Tokyo

Ferrous scrap price, purchased by the scrap dealers is increasing to around 19,600 yen per tonne for pressed new cutting scrap and around 18,600 yen for new cutting scrap without pressed including freight in Tokyo. Integrated steel makers, electric furnace steel makers and special steel maker’s purchase price is increasing to 26,000-26,500 yen per tonne for new cutting scrap, and some makers pay as high as 27,000 yen. Therefore, the market price keeps firm. Local electric furnace steel makers expect that their production volume on April would increase by 50,000 tons from last month, and they have strong appetite for new cutting scrap. Scrap supply is not possible to increase toward the end of fiscal year. For a while, new cutting scrap supply unchange, the market price is likely to keep firm.Ferrous scrap price, purchased by scrap dealers keeps firm in Osaka. The market price is around 11,000 yen per tonne for H2.