Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at 33,600 yen per tonne for pressed new cutting scrap and 32,600 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is expected to keep level due to higher demand in other areas in Japan. Local electric furnace steel makers pay 37,500-38,500 yen per tonne for new cutting scrap and some pay as high as 39,000 yen. They increased the purchase price since mid-February. However, they now watch the market move when scrap export price is expected to peak out. However, the makers try to secure more scrap to increase the output in a week long holiday in early May. They are expected to keep the price to increase the scrap purchase. Ferrous scrap market price is flat at around 28,500 yen per tonne for H2 grade around Osaka.