Lower Ferrous Scrap Price in Tokyo

Ferrous scrap market price decreased by 500 yen to 33,100 yen per tonne for pressed new cutting scrap and 32,100 yen for new cutting scrap without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level though the market move depends on local makers’ purchase attitude.

The local electric furnace steel makers pay 37,500-38,000 yen per tonne for new cutting scrap and some pay as high as 38,500 yen. The dealer sources said the scrap arrivals to dealers are smaller than usual due to middle of a-week long holiday.