Tokyo’s New Factory Busheling Scrap Price to be Weakening

The new factory busheling scrap price in the Tokyo area, Eastern Japan, is weakening due to output reduction by blast furnaces steel manufactures. It is around 17,600 yen per tonne for press and around 16,600 yen per tonne for separate for dealers’ purchase prices (center values).The electric and blast furnace steel makers are increasing range of output reduction because January-March is ferrous scrap’s drop-off period. Dealers still plan to reduce the purchase prices.Steel makers in China, Korea and Taiwan have contracted 900,000 tonnes or more of ferrous scrap mainly from Europe at total in January-March. The ferrous scrap market might fall further in the area.