Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is firm at around 9,400 yen per tonne for steel turning scrap, at around 9,900 yen for A grade pig iron turning scrap and at around 9,400 yen for B grade pig iron turning scrap at the dealers’ purchase price including freight around Tokyo. The price is likely to keep firm due to tight supply balance.

Local electric furnace steel makers pay 15,000-16,500 yen per tonne for turning scrap. The scrap supply is very low due to major production cut by automakers and manufacturers. The low level supply is expected to keep the tight supply balance despite of the lower consumption by steel makers, which are in major production cut.

Ferrous scrap market price is flat at around 13,000-14,000 yen per tonne for H2 grade around Osaka. Local electric furnace steel makers keep the purchase price in the week to watch the market condition while they increased the purchase price by 1,000-2,000 yen last week.