Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 17,600 yen per tonne for pressed new cutting scrap and around 16,600 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 low level supply.

Local electric furnace steel makers pay 21,000-23,000 yen per tonne for new cutting scrap. The dealers’ purchase scrap purchase volume is low level due to tight supply from industrial plants. The supply is expected to keep low level due to very low industrial activity. A dealer source expects the supply is balanced despite of the steel makers’ major production cut.

Ferrous scrap market price is flat at around 12,500 yen per tonne for H2 grade around Osaka.