Weak New Cutting Scrap Price in Tokyo

New cutting ferrous scrap price in Tokyo is weakening at around 20,100 yen per tonne for pressed grade and around 19,100 yen for bulk at dealers’ purchase price including freight.The supply is favorable for export from Tokyo Bay and for dealers. On the other hand, because allocation of ships is short supply, local scrap supply keeps easy. Local carbon steel electric furnace steel makers pay 25,500-26,000 yen per tonne for new cutting scrap and special steel makers pay 27,000-28,000 yen. The arrival of ferrous scrap for steel makers is well and makers apparently have enough inventory. Both of the dealers’ purchase price and the purchase price by manufactures will be weak for the time being. The ferrous scrap price in the Osaka area is also flat at around 15,500 yen per tonne for H2 at dealers’ purchase prices including freight.