Ferrous scrap price decreases both in Tokyo and in Osaka

New cutting ferrous scrap market price is weakening at around 41,000 yen per tonne for press and 39,100 yen for shredding around Tokyo. Local electric furnace steel makers’ purchase price is at around 46,000-47,500 yen per tonne for press.Some export dealer reduced the price by around 2,000-3,000 yen per tonne in bay area around Tokyo when they can not receive a new export order. Many dealers say, the market price mood is weakening while the electric furnaces’ lowering prices was not penetrated. Ferrous scrap price around Osaka decreased from a month. Local electric furnaces’ purchase price decreased to around 45,000-46,000 yen per tonne for H2 grade. Dealers’ purchase price for H2 also decreased to around 36,000 yen per tonne.