Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 10,400 yen per tonne for steel turning scrap, around 10,900 yen for A grade pig iron turning scrap and around 10,400 yen for B grade pig iron turning scrap at the dealers’ purchase price including freight around Tokyo. The price is likely to keep firm despite of very slow local consumption.

Local electric furnace steel makers pay 15,500-17,000 yen per tonne for turning scrap. Some local steel makers increased the scrap purchase price but the price adjustment failed to improve the dealers’ shipment for steel makers. A dealer source said the supply balance could keep tight due to very slow scrap supply despite of the steel makers’ major production cut.

Ferrous scrap market price is flat at around 14,000 yen per tonne for H2 grade around Osaka. Local electric furnace steel makers pay 21,000-23,000 yen per tonne for H2 grade.