Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at 20,400 yen per tonne for steel turning scrap, at 23,400 yen for A grade pig iron turning scrap and at 22,400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level when the industry interests expect the market is hitting bottom under rebound of offshore market. Local electric furnace steel makers pay around 26,000 yen per tonne for tuning scrap and some pay as high as 27,500 yen. Local scrap dealers started to build scrap inventory preparing for higher export demand from Tokyo bay. Ferrous scrap market price is flat at around 26,000 yen per tonne for H2 grade around Osaka.