Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at 25,400 yen per tonne for steel turning scrap, at 28,400 yen for A grade pig iron turning scrap and 27,400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. Local electric furnace steel makers pay 29,500-31,000 yen per tonne for turning scrap and some makers pay as high as 32,500 yen.Local steel makers’ scrap arrivals are smooth enough to the consumption. Dealer source said makers’ scrap arrivals are good situation due to hard allocation of ships. The market price is expected to keep decreasing tone because the supply and demand would keep balance.Ferrous scrap market price is weak at 31,500 yen per tonne for H2 grade around Osaka.