Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at around 14,600 yen per tonne for pressed new cutting scrap and at around 13,600 yen for new cutting grade without press at the dealers’ purchase price including freight around Tokyo. The price is likely to keep weak under slow demand.

Local electric furnace steel makers pay 18,500-20,000 yen per tonne for new cutting scrap around Tokyo. The scrap consumption gets lower when decreasing steel demand forces the steel makers to expand the output reduction. Some makers stop the scrap acceptance and reduce the purchase volume under the low level operation.

Scrap market price is weak at around 8,000 yen per tonne for H2 grade at the dealers’ purchase price around Osaka.