Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price stay the level at 22,100 yen per tonne for pressed new cutting scrap and at 20,110 yen for new cutting scrap without press at dealers’ purchase price including freight around Tokyo. The price could keep the level under the stable export price. Japanese scrap export price decreased for the first time in 5 months under less appetite from steel makers in Taiwan and South Korea. The successful bid decreased slightly at export tender held by Kanto Tetsugen for July shipment. The market source said the export price could peak out. However, the domestic market price could keep the level both for dealers’ and electric furnace steel makers’ purchase prices when the exporters keep shipping for the order backlog with some delays.