Flat Ferrous Scrap Price in Tokyo

Ferrous scrap price is flat at 14,900 yen per tonne for steel turning scrap, 17,900 yen for A grade pig iron turning scrap and 16,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is expected to keep the level under the balanced supply. The market expects local electric furnace steel makers could reduce the purchase price. The dealers try to ship the inventory before the price decreases. Local electric furnaces get scrap arrivals enough to the consumption. Local steel makers pay around 20,000 yen per tonne for turning scrap. The makers are still cautious to watch market condition. Ferrous scrap price is flat at around 17,000 yen per tonne for H2 grade around Osaka.