Ferrous scrap market price is flat at around 34,100 yen per tonne for pressed new cutting scrap and at around 33,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price could increase when export price from Tokyo bay started to improve.Offshore buyers now recognize Japanese scrap price is relative lower than other sources under extremely higher ocean freight. Steel makers in Taiwan and Chinese started to inquire to Japanese dealers recently though they were away from high priced Japanese scrap before. The negotiation level is higher than purchase price by electric furnace steel makers around Tokyo. Some dealers around Tokyo started to increase the purchase price to secure materials for potential higher export shipping.Ferrous scrap market price is flat at around 29,500 yen per tonne for H2 grade around Osaka.
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