Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at 34,100 yen per tonne for pressed new cutting scrap and at 33,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when the market players try to find the supply condition of the market. Local electric furnace steel makers pay 38,000-39,000 yen per tonne for new cutting scrap. The new cutting scrap supply is lower in the week due to summer holiday shutdown by the suppliers including automakers and appliances makers last week. Local electric furnaces try to watch the market condition keeping the purchase price. Ferrous scrap market price is also flat at around 29,000 yen per tonne for H2 grade around Osaka.