Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 19,600 yen per tonne for pressed new cutting scrap and around 18,600 yen for new cutting scrap without press at the dealers’ purchase price including freight around Tokyo. The price is likely to keep the level under balanced supply.

Local electric furnace steel makers pay 23,000-24,500 yen per tonne for new cutting scrap. The supply keeps tight due to very low level scrap generation while the local steel makers’ consumption is low level. A dealer expects the balanced supply condition continues for a while.

Ferrous scrap market price shows sign to rebound around Osaka when Tokyo Steel Manufacturing announced purchase price hike. The dealers’ purchase price is around 13,500 yen per tonne for H2 grade while local electric furnace steel makers’ purchase price is 21,000-22,500 yen for H2.