Flat Ferrous Scrap Price in Tokyo

Ferrous scrap price is flat at 21,600 yen per tonne for pressed new cutting scrap and 20,600 yen per tonne for new cutting scrap without press at dealers’ purchase price including freight around Tokyo. The price is expected to keep the level in balanced market. Local electric furnace steel makers pay 27,000-27,500 yen per tonne for new cutting scrap. Some pay as high as 28,000 yen. Some of them are still in summer time maintenance outage. With the smaller consumption, local scrap supply is easy. Local steel makers get scrap arrivals enough to the consumption. Ferrous scrap price could increase around Osaka. The price increased by 500 yen to around 17,000 yen per tonne for H2 grade last week.