Stable Scrap Price in Tokyo

Ferrous scrap market price is flat 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 likely to keep the level when market players watch the market move. Local electric furnace steel makers get scrap arrivals enough to the consumption with better local scrap supply. They pay 27,000-27,500 yen per tonne for new cutting scrap. Especially special steel makers try to secure the scrap more at around 28,500 yen. The purchase price is also likely to keep the level.