Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 29,900 yen per tonne for steel turning scrap, at around 32,900 yen for A grade pig iron turning scrap, and at around 31,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when local steel makers try to build scrap inventory for output increase during 3-day holiday weekend. Local electric furnace steel makers pay 34,000-35,000 yen per tonne for turning scrap and some makers pay as high as 37,000 yen. The makers keep the price level while the export FAS price from Tokyo bay decreases slightly. A dealer source said the scrap dealers also cannot reduce the purchase price from the market. Ferrous scrap market price is firm at around 35,000 yen per tonne for H2 grade around Osaka.