Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at 33,600 yen per tonne for pressed new cutting and at 32,600 yen for new cutting scrap without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when local electric furnace steel makers try to secure more scrap at the high price preparing for a-week long holiday. Local electric furnaces pay 37,500-38,500 yen per tonne for new cutting scrap and some pay as high as 39,000 yen. The price level meets scrap export shipping FAS price from Tokyo bay. Ferrous scrap market price is firm at around 29,000 yen per tonne for H2 grade around Osaka.