Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 27,900 yen per tonne for steel turning scrap, at 30,900 yen for A grade pig iron turning scrap and at 29,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is expected to keep firm when local electric furnace steel makers build scrap inventory toward 3-day holiday weekend. Local makers pay 32,500-33,500 yen for turning scrap and some pay as high as 35,500 yen. The turning scrap supply is low level in the week just after a week long yearend and New Year holiday for automakers and appliances makers. The dealers expect the market keeps firm for a while when the local makers keep operations in the holiday weekend. Ferrous scrap market price is firm at around 32,500 yen per tonne for H2 grade around Osaka.