Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at 34,100 yen per tonne for pressed new cutting scrap and at 33,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when balanced price move by domestic and offshore buyers. Local electric furnace steel makers pay 38,000-39,000 yen per tonne for new cutting scrap and some pay around 40,000 yen. Local ferrous scrap market price increased by around 500 yen in August when local electric furnaces raised the purchase price under limited supply in summer holiday and higher FAS price from Tokyo bay.Ferrous scrap market price is also flat at around 29,000 yen per tonne for H2 grade around Osaka.