Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 38,100 yen per tonne for pressed new cutting scrap and at around 37,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep firm under tight supply. Local electric furnace steel makers pay 44,000-45,000 yen per tonne for new cutting scrap and some makers pay as high as 45,500 yen. The dealers ship more for coastal yard when the FAS shipping price from Tokyo bay is higher than purchase price by local steel makers. The dealers see the high grade scrap supply gets tighter than before. Ferrous scrap market price is firm at around 35,000 yen per tonne for H2 grade around Osaka.