Slight Lower Ferrous Scrap Price in Tokyo

Ferrous scrap price decreased by 500 yen to 17,400 yen per tonne for steel turning scrap at dealers’ purchase price including freight around Tokyo. The price decreased to 20,400 yen for A grade pig iron turning scrap and to 19,400 yen for B grade pig iron turning scrap. The price is expected to rebound toward the former price level under higher export price. Local electric furnace steel makers pay around 22,000 yen per tonne for turning scrap. They reduced the price by 500-1,000 yen from previous week when the dealers try to ship scrap for local steel makers under slower shipping from Tokyo bay. Ferrous scrap price is firm at around 22,000 yen per tonne for H2 grade around Osaka.