Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at 31,100 yen per tonne for pressed new cutting scrap and at 30,100 yen for new cutting scrap without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when the export price started to increase. Local electric furnace steel makers pay 32,500-33,500 yen per tonne for H2 grade and some pay as high as 34,000 yen. Hyundai Steel of South Korea increased the offer price to 41,500 yen per tonne for Japanese new cutting grade at weekly tender on Thursday, which was 2,000 yen higher than previous tender. Ferrous scrap market price is weak at around 26,000 yen per tonne for H2 grade around Osaka.