Weak Ferrous Scrap Price in Tokyo

Ferrous scrap price is decreasing 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 could keep weak when local electric furnace steel makers have inventory enough to the consumption. Local electric furnaces pay 27,000-27,500 yen per tonne for new cutting scrap. Some makers pay as high as 28,000 yen and the price keeps the high level. The dealers see the price is peaking out. Some dealers rush to ship the inventory before the price starts to decrease. Ferrous scrap price is flat at 17,000 yen per tonne for H2 grade around Osaka.