Ferrous Scrap Price Drops in Tokyo

Ferrous scrap market price turned into decrease around Tokyo. The price is around 8,900 yen per tonne for steel turning scrap, at around 9,400 yen for A grade pig iron turning scrap and at around 8,900 yen for B grade pig iron turning scrap at the dealers’ purchase price including freight. The price is likely to keep the level due to the balanced supply with lower consumption and lower supply.

Local electric furnace steel makers pay 13,000-15,500 yen per tonne for turning scrap. The makers reduced the purchase price in the week followed by the dealers’ purchase price reduction. A dealer source expects despite of the lower consumption by the makers, the market price couldn’t drop sharply from the level under low level supply.

Ferrous scrap market price decreases at around 11,000 yen per tonne for H2 grade around Osaka.