Ferrous scrap price has kept the level since June after the price incresad by 5,000 yen or 37% from the bottom of 13,500 yen per tonne in February at the dealers’ purchase price including freight around Tokyo. The price is weak at around 18,500 yen per tonne for H2. The scrap market could drop after next week under weak demand due to maintenance outage. However, the market could regain the activity after electric furnace finish maintenance outage.The supply is slow due to summer vacation period while local electric furnace steel makers keep the purchase price at around 26,000 yen due to the lower consumption under planned maintenance. The scrap export price dropped due to slower demand from makers in South Korea and Taiwan. The exporters get little new export order. The export price decreased by 785 yen to FAS 25,270 yen per tonne for H2 at export tender for September shipment held by Kanto Tetsugen last week.
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