Flat Ferrous Scrap Market in Tokyo

Ferrous scrap market price is flat at 23,400 yen per tonne for steel turning scrap, at 26,400 yen for A grade pig iron turning scrap and at 25,400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level under balanced supply. Local electric furnace steel makers pay 29,000-29,500 yen per tonne for turning scrap and some pay as high as 30,000 yen. The scrap dealing is slow due to mid-August holiday. A dealer source said the market keeps the level despite of temporally easier supply when local electric furnaces plan maintenance outage in the week.