Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 18,100 yen per tonne for pressed new cutting scrap and around 17,100 yen for new cutting scrap without press at the dealers’ purchase price including freight around Tokyo. The price is likely to keep the level under balanced supply.

Local electric furnace steel makers pay 22,000-23,500 yen per tonne for new cutting scrap. The dealers’ scrap purchase volume is still low level due to the low level supply from the market. A dealer source said the local scrap supply would keep the balance despite of the very low demand.

Ferrous scrap market price is flat at around 12,500 yen per tonne for H2 grade around Osaka. Local electric furnace steel makers pay 19,500-21,000 yen for H2 grade.