Flat Ferrous Scrap Price in Tokyo

Ferrous scrap price is flat at 22,100 yen per tonne for pressed new cutting scrap and 20,110 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when exporters keep shipping scrap for order backlog. The exporters have trouble to get new export order from Tokyo bay when steel makers in South Korea and Taiwan have less appetite. With the lower export demand, local industry players expect the local supply gets easy. Local electric furnace steel makers pay 27,000-27,500 yen per tonne for new cutting grade. The price keeps high level when some makers pay as high as 28,000 yen. Ferrous scrap price is firm at around 17,000 yen per tonne for H2 grade around Osaka.