Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 9,400 yen per tonne for steel turning scrap, at around 9,900 yen for A grade pig iron turning scrap and at around 9,400 yen for B grade pig iron turning scrap at the dealers’ purchase price including freight around Tokyo. The price is likely to keep firm due to tight supply.

Local electric furnace steel makers pay 15,000-16,500 yen per tonne for turning scrap. The makers reduce the consumption under the production cut while the scrap supply decreases more due to very slow industrial activity. A dealer said the dealers can purchase the scrap only half of usual volume from manufacturing plants when automobile and other industry are in major production cut.

Ferrous scrap market price is firm at around 13,000-14,000 yen per tonne for H2 grade around Osaka after local steel makers increased the purchase price by 1,000-2,000 yen.