Flat Ferrous Scrap Price in Tokyo

Ferrous scrap price is flat at 16,400 yen per tonne for steel turning scrap, 19,400 yen for A grade pig iron turning scrap and 18,400 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 need more scrap preparing for higher operation during 3-day holiday weekend with lower electricity cost. Local electric furnace steel makers keep the price in the month. The supply is easy due to slower vessel shipping to other areas and export. However, the local makers have to secure more scrap for the weekend. The dealers expect the makers are not likely to reduce the price immediately. Ferrous scrap price is flat at around 23,000 yen per tonne for H2 grade around Osaka though some dealers revise the purchase price downward.