Weak Ferrous Scrap Price in Tokyo

Ferrous scrap price is weak at 22,100 yen per tonne for pressed new cutting scrap and 20,110 yen for new cutting scrap without press at dealers’ purchase price including freight around Tokyo. The price is expected to keep weak when local electric furnace steel makers are expected to reduce the scrap purchase price due to the lower consumption.

Local electric furnaces pay 27,000-27,500 yen per tonne for new cutting scrap. Some pay as high as around 28,000 yen. The scrap supply is enough for the consumption. The electric furnaces are expected to reduce the purchase price when they reduce the consumption due to planned maintenance outage.

Ferrous scrap price is flat at around 17,000 yen per tonne for H2 grade around Osaka.