Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 23,900 yen for steel turning scrap, at 26,900 yen for A grade pig iron turning scrap and at around 25,900 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 the market interests try to find the next trend. Local electric furnace steel makers around Tokyo pay 29,000-30,000 yen per tonne for turning scrap and some makers pay as high as 33,500 yen. The makers keep the purchase price in the month. The dealers expect the price couldn’t rebound in short term when the steel makers still have sufficient scrap inventory while they finished maintenance outage period. Ferrous scrap market price is flat at around 32,000 yen per tonne for H2 grade at dealers’ purchase price around Osaka.