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 relative tighter market for the maintenance outage season.

Local electric furnace steel makers pay 38,000-39,000 yen per tonne for new cutting scrap and some pay as high as 39,500 yen. The price keeps high due to lower scrap generation from the market during summer holiday season and local scrap dealers get lower scrap arrivals from the market. A dealer source said the local supply could keep tight for a while.

Ferrous scrap market price is increasing to around 29,000 yen per tonne for H2 grade around Osaka.