Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 19,600 yen per tonne for pressed new cutting scrap and around 18,600 yen for new cutting scrap without press at the dealers’ purchase price including freight around Tokyo. The price is likely to keep the level due to relative tight supply.

Local electric furnace steel makers pay 23,000-24,500 yen per tonne for new cutting scrap. The makers kept the price level since mid-May. However, a dealer source said the low level supply still contributes to the tight supply and the supply balance could support the market price.

Ferrous scrap market price is flat at around 13,500 yen per tonne for H2 around Osaka. Local electric furnace steel makers pay 21,000-22,000 yen for H2 grade scrap.