Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price decreased to 15,100 yen per tonne for pressed new cutting scrap and to 14,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. Electric furnace makers’ purchase price decreased to 19,000-20,000 yen per tonne for pressed new cutting ferrous scrap and some pay as high as 20,500 yen.

Dealers’ purchase price decreased by 1,000 yen per tonne last week when steel makers reduced the purchase price of ferrous scrap due to loosing supply and demand for ferrous scrap around Tokyo. Some makers put restrictions for arrival of ferrous scrap.

Ferrous scrap market price is flat at around 8,000 yen per tonne for H2 grade around Osaka.