Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at 27,100 yen per tonne for pressed new cutting scrap and at 26,100 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is expected to keep the level with firm demand for export. Local electric furnace steel makers pay 30,500-31,000 yen per tonne for new cutting scrap and some pay 31,500 yen. They keep the price after the reduction in late January. A dealer source said the electric furnaces’ purchase price doesn’t decrease any more when the exporters get new order. Ferrous scrap price is around 23,000 yen per tonne for H2 though some dealers reduce the purchase price.