Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at 23,400 yen per tonne for steel turning scrap, at 26,400 yen for A grade pig iron turning scrap and at 25,400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak under lower export price from Tokyo bay. Scrap export price decreased to 35,414 yen per tonne FAS Tokyo bay for H2 grade for November shipment at monthly export tender held by Kanto Tetsugen on Friday. The price decreased by 1,736 yen from previous month and decreased for 2 months in a row. The export price keeps decreasing recently and the scrap dealers were surprised at the result. Ferrous scrap market price is weak at around 30,000 yen per tonne for H2 grade around Osaka.