Flat Ferrous Scrap Price in Tokyo

Ferrous scrap price is flat at 25,100 yen per tonne for pressed new cutting scrap and 24,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is expected to keep the level under demand season though local electric furnace steel makers had reduced the price. The scrap supply was diverted to local electric furnaces under slow export shipping. Local makers could secure the procurement easily. They pay 29500-30,000 yen per tonne for new cutting scrap and some pay as high as 31,000 yen. Ferrous scrap price is flat at around 17,000 yen per tonne for H2 grade around Osaka.