Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 14,100 yen per tonne for pressed new cutting scrap and around 13,100 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 for low level demand.

Local electric furnace steel makers pay 18,000-19,500 yen per tonne for new cutting scrap. The makers keep the price level since mid-March. The makers reduce the scrap consumption under major production cut while the scrap supply is low level under very slow activity by manufacturers and construction.

Ferrous scrap market price is also flat at around 8,500 yen per tonne for H2 grade around Osaka. Local electric furnace steel makers pay 16,000-17,000 yen for H2 grade.