Ferrous Factory Bandle Scrap Price Decreases in Tokyo

Ferrous scrap price is decreasing to around 17,600 yen per tonne for pressed new cutting scrap and to around 16,600 yen for the factory bandle scrap without press at dealers purchase price including freight in Tokyo. The price decreased by 3,500 yen from recent peak in December, 2005 and the decreassing rate of the price is bigger than the heavy scrap price. Supply of high-grade ferrous scrap is easing by the reduction of integrated steel makers. Scrap dealers are reducing their purchase price under weak sales of ferrous new cutting scrap. High-grade ferrous scrap price is likely to decreasing for a while. Tokyo ferrous scrap dealer’s association, Kanto Tetsugen will hold export tender of ferrous scrap for March shipment on February 9. The export price would be reflected Asia market after Chinese New Year.In Osaka, ferrous scrap price is decreasing to around 11,000 yen per tonne for H2.