Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at 22,900 yen per tonne for steel turning scrap, 25,900 yen for A grade pig iron turning scrap and 24,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is expected to keep the level with expectation for potential lower export price. Local electric furnace steel makers pay around 29,000 yen per tonne for turning scrap and some pay as high as 31,000 yen. Utsunomiya plant of Tokyo Steel Manufacturing reduced the scrap purchase price by 1,000 yen per tonne on Friday. However, other local makers keep the purchase price to keep better procurement. Ferrous scrap price is flat at around 28,500 yen per tonne for H2 grade around Osaka.