The market price of new cutting ferrous scrap is increasing in Tokyo. The price is around 17,600 yen per tonne for pressed new cutting scrap and around 16,600 yen per tonne for new cutting scrap without press at dealers’ purchase price including freight.Local electric furnace steel makers purchase new cutting scrap at around 25,000-25,500 yen per tonne. Scrap supply is tight around Tokyo area and the purchase price seems to increase more.Both of the market price and electric furnaces’ purchase price are increasing gradually for new cutting scrap. Ferrous scrap market is widely in the strong mood, when the ferrous scrap export price maintains high which leads the market.The futures price of new cutting scrap was 26,710 yen for March delivery on Thursday, unchanged from Wednesday. The price increased by around 2,000 yen from the bottom of 24,000 yen at the end of January.Ferrous scrap price is also strong in Osaka with the price hike by Tokyo Steel Manufacturing. The market price is around 10,500 yen per tonne for H2 grade.
Japan Steel Scrap Composite Prices (Sangyo Press)12/08/2023
|49900YEN (-)||51400YEN (-)|
|345.93US$ (9.15)||356.33US$ (9.43)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)