Flat New Cutting Scrap in Tokyo

Ferrous scrap market price is flat at around 21,600 yen per tonne for pressed new cutting scrap and at 20,600 yen for new cutting scrap without press at dealers’ purchase price including freight around Tokyo. The price is expected to keep the level despite of easier supply. Local scrap supply is easy when some local electric furnace steel makers are still in maintenance outage. Local makers get scrap arrivals enough to the consumption. The makers pay 27,000-27,500 yen per tonne for new cutting scrap. Some pay as high as 28,000 yen. They are still cautious for the pricing when scrap export price shows sign for rebound. Ferrous scrap price is flat at around 16,500 yen per tonne for H2 grade around Osaka.