Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 19,100 yen per tonne for pressed new cutting scrap and at around 18,100 yen for new cutting scrap without press at the dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when the players try to figure out the market trend.

Local electric furnace steel makers pay 23,000-24,500 yen per tonne for new cutting scrap. The makers keep the purchase price in the month. The price gap with export shipping FAS price from Tokyo bay narrows when the export price decreased by 1,000 yen in a week. The export is expected to keep certain volume but the local supply gets balanced position. A dealer said it is early to say the market would turn into decrease.

Ferrous scrap market price is flat at around 13,000 yen per tonne for H2 grade around Osaka.