Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at around 66,600 yen per tonne for pressed new cutting scrap and at around 65,600 yen for new cutting grade without press at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak due to limited export shipping. Local electric furnace steel makers pay 71,000-74,000 yen per tonne for new cutting scrap. The price level dropped by 500-1,000 yen compared with last week level when the makers are getting scrap delivery enough to the operations. The dealers also reduce the purchase price from the market. Ferrous scrap market price is weak at around 62,000 yen per tonne for H2 grade around Osaka.