Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at around 400 yen per tonne for steel turning scrap, at 900 yen for A grade pig iron turning scrap and at 400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price could keep weak when local steel makers reduce the consumption.

Local electric furnace steel makers pay 3,000-5,500 yen per tonne for turning scrap. The dealers increase the scrap procurement for free when steel makers reduce the purchase price. However, some dealers concern scrap suppliers and collectors could be reluctant to secure materials and scrap circulation system couldn’t work if the suppliers would have to pay or get nothing for scrap supply for long term.

Ferrous scrap market price is weak in Osaka. Local electric furnace steel makers’ purchase price is around 8,500-10,000 yen per tonne for H2 grade.