Flat Ferrous Scrap Price in Tokyo

Ferrous scrap market price is flat at around 29,900 yen per tonne for steel turning scrap, at around 32,900 yen for A grade pig iron turning scrap and at around 31,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep the level under balanced supply condition. Local electric furnace steel makers pay 34,000-35,000 yen per tonne for turning scrap and some makers pay as high as 37,000 yen. The price is around 7,000 yen higher than recent bottom. A dealer source said the market price shows sign to hit peak but the tight supply could keep the price level. Ferrous scrap market price is flat at around 35,000 yen per tonne for H2 grade around Osaka.