Flat Ferrous Scrap Price in Tokyo

Ferrous scrap price is flat at 14,900 yen per tonne for steel turning scrap, at 17,900 yen for A grade pig iron turning scrap and 16,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is expected to keep the level when local players wait the next move in the market. Many of market players see the market is in adjustment phase. Some local scrap dealers rush to ship the holding scrap before decline. With more supply, local electric furnace steel makes get scrap arrival enough to the consumption. The electric furnaces pay around 20,000 yen per tonne for turning scrap. They are also watching market move cautiously. Ferrous scrap price is firm and keeps around 17,000 yen per tonne for H2 grade around Osaka.