Flat Ferrous Scrap Price under Low Demand around Tokyo

New cutting ferrous scrap price is flat around Tokyo. The market price is around 21,100 yen per tonne for higher grade press scrap and 20,100 yen per tonne for lower grade press scrap at purchase by dealers including freight. The purchase price by local electric furnace steel makers is 26,000-27,000 yen per tonne and some makers pay as high as 27,500 yen per tonne.

New cutting scrap stock at dealers is low when scrap generation remains low. A dealer source said the turn volume is lower than normal in the market and the supply and demand of ferrous scrap is expected to keep balance despite of the demand decreases by electric furnace makers’ output cut.

The purchase price for H2 grade scrap by dealers is increasing to around 16,500 yen per tonne around Osaka. Local electric steels’ purchase price is 24,500-25,500 yen per tonne and some makers pay higher.