Ferrous New Cutting Scrap Price is Firm in Tokyo

Ferrous scrap price is Firm in Tokyo. However, the market players wait and see the scrap market situation. The scrap dealer’s purchasing price including freight in Tokyo is around 19,100 yen per tonne for pressed new cutting scrap and around 18,100 yen for new cutting scrap. Local electric furnace steel makers pay around 25,500 yen per tonne for new cutting scrap. They are careful increasing the purchasing price under appear ceiling mood on scrao export price. Scrap dealers expect to increase the amunt of emergence of the ferrous scrap from March, 2006. The scrap supply would become ease aiming at the early spring under the overseas steel makers completed their purchasing. Though the market price keep firm. There is possible to decrease from next month.