Flat Ferrous Scrap Price in Tokyo

Ferrous scrap price is flat at 22,100 yen per tonne for pressed new cutting scrap and 20,110 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when exporters keep shipping for existing export orders. The dealers expect scrap purchase price by local electric furnace steel makers is peaking. Some dealers rush to ship scrap for the local makers before the price down. The makers get scrap arrivals enough to consume. The makers pay 27,000-27,500 yen per tonne for new cutting scrap. The price keeps the high level when some pay as high as 28,000 yen. Ferrous scrap price is also flat at 16,500 yen per tonne for H2 grade around Osaka.