Weak Ferrous Scrap Price in Tokyo

Ferrous scrap price is decreasing at 11,900 yen per tonne for steel turning scrap, 14,900 yen for A grade pig iron turning scrap and 13,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak when the consumption by local electric furnace steel makers will decrease. Local makers pay 19,000-19,500 yen per tonne for turning scrap meeting FAS shipping price from Tokyo bay. Local makers are expected to reduce the scrap purchase price when they plan seasonal output reduction in summer.