Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 17,100 yen per tonne for pressed new cutting scrap and around 16,100 yen for new cutting grade without press at the dealers’ purchase price including freight around Tokyo. The price is likely to keep firm due to higher export price from Tokyo bay.

Local electric furnace steel makers pay 20,500-22,500 yen per tonne for new cutting scrap. The makers’ consumption decreases while the supply is balanced due to low level supply. Chinese buyers offer higher price than local steel makers. A dealer source expects such higher export price could lift the local market price.

Ferrous scrap market price is firm at around 12,500 yen per tonne for H2 grade around Osaka. Local electric furnace steel makers pay 19,500-21,000 yen for H2 grade.