New Factory Busheling Scrap to be Quiet in Weak Tone in the Tokyo area

The new factory busheling scrap market in the Tokyo area, Eastern Japan, is quiet in the weak tone. The market prices are around 17,600 yen per tonne for press and around 16,600 yen per tonne for separate for dealers’ purchase prices. Some forecast that the market will rally after next week which Chinese New Year ends. Since the local electric furnace steel makers pay attention to the export quotation, they purchase the ferrous scrap at around 21,500-22,500 yen per tonne for H2. On the other hand, new factory busheling scrap forward rate of Central Japan Commodity Exchange closes at 26,000 yen per tonne. The ferrous scrap market price in the Osaka area, Western Japan, is also quiet in the weak tone at around 10,500 yen per tonne for H2.