Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at 22,400 yen per tonne for steel turning scrap, 25,400 yen for A grade pig iron turning scrap and 24,400 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 local electric furnace steel makers try to secure requirement for output increase in a week long holiday. Tokyo Steel Manufacturing reduced the scrap purchase price by 500 yen per tonne at Utsunomiya plant while the firm increased the price by 500 yen for ocean transport to Okayama and Kyushu plants on Friday. However, other electric furnace steel makers keep the purchase price around Tokyo. They pay 29,000 yen per tonne for turning scrap and some pay as high as 30,500 yen. Ferrous scrap market price is flat at around 29,000 yen per tonne for H2 grade around Osaka.