Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at 25,900 yen per tonne for steel turning scrap, at 28,900 yen for A grade pig iron turning scrap and at 27,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak due to slower export and enough local supply. Local electric furnace steel makers pay 29,500-31,000 yen per tonne for turning scrap and some makers pay as high as 33,500 yen. The dealers try to reduce the scrap purchase price when local steel makers reduce the purchase price with smooth scrap arrivals enough to the operations. Ferrous scrap market price is flat at around 31,500 yen per tonne for H2 grade around Osaka.