Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at around 22,900 yen for steel turning scrap, at around 25,900 yen for A grade pig iron turning scrap and at around 24,900 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 export shipping. Local electric furnace steel makers pay 28,000-29,000 yen per tonne for turning scrap and some makers pay as high as 30,000 yen. The scrap supply is still low level but the dealers try to reduce the purchase price cautiously balancing with the steel makers’ purchase price when steel makers get smooth scrap arrivals with slower scrap shipping from Tokyo bay. Ferrous scrap market priced is weak at around 29,500 yen per tonne for H2 grade around Osaka.