Tokyo’s New Factory Busheling Scrap Prices Continue Strong Tones

The new factory busheling scrap market prices in the Tokyo area continues their strong tones. The price purchased by the distributors is around 19,100 yen per tonne for the pressed scrap and around 18,100 yen per tonne for the non-pressed. Utsunomiya plant of Tokyo Steel Manufacturing reduced the purchase price by 500 yen per tonne to 26,000 yen per tonne on February 28 since the firm considered the price purchased by the blast furnace steel makers and the export prices. That scrap supply and demand becomes tight. The purchase prices by the electric furnace steel makers in the area are 25,500-26,000 yen per tonne. Each of the distributors is raising the purchase price step by step because the purchase prices by the electric furnace steel makers are increasing. Some scrap dealer said that it has less chance to raise the domestic price of new factory busheling scrap since there is the mood of the export price’s peaking out. It is expected the market prices will keep their strong tones.