Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at 25,900 yen per tonne for steel turning scrap, at 28,900 yen for A grade pig iron turning scrap and 27,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak with slower export activity and oversupply condition. Local electric furnace steel makers pay 29,500-31,000 yen per tonne for turning scrap and some makers pay as high as 33,000 yen. The market price keeps decreasing from the beginning of the month. Local dealers try to ship the materials to avoid building inventory. Local steel makers’ scrap arrivals are smooth enough to the consumption. Ferrous scrap market price is weak at 31,500 yen per tonne for H2 grade around Osaka.