Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at 26,900 yen per tonne for steel turning scrap, at 29,900 yen for A grade pig iron turning scrap and at 28,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo.The price is likely to keep strong when local electric furnace steel makers increase the purchase for higher output.Local steel makers pay 30,500-31,500 yen per tonne for turning scrap and some makers pay as high as 35,500 yen.Because allocation of ship is less from Tokyo bay due to slower contracts for the export, the market ferrous scrap is flowing to local steel makers. However, ferrous scrap keeps short. Dealer source said there is no reason that ferrous scrap market price become weak.