Firm Ferrous Scrap Price in Tokyo

Ferrous turning scrap price is increasing at 10,400 yen per tonne for steel turning scrap and 13,400 yen for A grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The transaction is slow and dealers get fewer arrivals when the cargo collectors are off in a week long holiday. The market price moves upward when electric furnace steel makers secure more materials around Tokyo at higher price to increase the steel output in the holiday. Some industry sources expect the temporally upward trend will calm down after the holiday. The price depends on scrap inventory held by local steel makers after the holiday. Ferrous scrap price is flat with potential increase at 15,500 yen per tonne for H2 grade in Osaka.