Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at around 2,900 yen per tonne for steel turning scrap, at around 5,900 yen for A grade pig iron turning scrap and at around 4,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak under slower consumption by local steel makers.

Local electric furnace steel makers pay 10,000-12,500 yen per tonne for turning scrap. The dealers reduced the purchase price by 3,000 yen in the week when the steel makers reduce the purchase price under oversupply. The makers reduce the purchase volume under output reduction.

Ferrous scrap market price is weak at around 7,500 yen per tonne for H2 grade around Osaka. Local electric furnace steel makers pay 16,000-17,000 yen for H2 grade.