Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at 33,600 yen per tonne for pressed new cutting scrap and at 32,600 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level due to relative firm demand 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. Tokyo Steel Manufacturing increased the scrap purchase price by 500 yen on Saturday. However, other local makers keep the price and most of local scrap dealers keep the scrap purchase price. A dealer source said despite of maintenance outage, the market price could keep the level until mid-August when local makers plan output increase under cheaper electricity cost. Ferrous scrap market price is also flat at around 28,000 yen per tonne for H2 grade around Osaka.