Weak Ferrous Scrap Price in Tokyo

Ferrous scrap price is weak at 22,100 yen per tonne for pressed new cutting scrap and 20,110 yen for new cutting scrap without press at dealers’ purchase price including freight around Tokyo. The price is expected to keep weak when local electric furnace steel makers reduce the output due to planned maintenance. Local scrap dealers accelerate the scrap shipment for local steel makers under weak price move. Local electric furnace steels pay 27,000-27,500 yen per tonne for new cutting scrap and some pay as high as 28,000 yen. The price could decrease more. Ferrous scrap price is also weak in Osaka at around 17,000 yen per tonne for H2.