Weak Ferrous Scrap Price in Tokyo

Ferrous scrap price decreased by 500 yen to 11,400 yen per tonne for steel turning scrap, 14,400 yen for A grade pig iron turning scrap and 13,400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price could decrease more under lower consumption by steel makers and lower export price from Tokyo bay. Local electric furnace steel makers reduced the scrap purchase price slightly from last week. They reduce the consumption under maintenance outage. Their purchase price is 19,000-19,500 yen per tonne for turning scrap competing with export FAS price from Tokyo bay when exporters get little new export order. Ferrous scrap price is flat at 16,500 yen per tonne for H2 around Osaka.