Ferrous scrap price is weakening in Tokyo. The price is around 20,100 yen per tonne for pressed new cutting scrap and around 19,100 yen per tonne for new cutting scrap without press at dealers’ purchase price including freight.Electric furnace steel makers around Tokyo purchase new cutting ferrous scrap at 26,000-27,000 yen per tonne. The makers are cautious of the price fluctuation watching the steel products price. Dealer source said the electric furnaces’ purchase price and the market price could stay at the high level by late April. The ferrous scrap supply is likely to tighten in the region with the increase of export shipping.Kanto Tetsugen holds export tender of ferrous scrap for May shipment on Wednesday. The successful tender price is expected to become as high as the previous tender. The market price would keep the level for a while.In Osaka, ferrous scrap price is flat at around 15,500 yen per tonne for H2.
Japan Steel Scrap Composite Prices (Sangyo Press)02/02/2023
|50400YEN (-)||51700YEN (-)|
|389.19US$ (4.16)||399.23US$ (4.27)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)