Weak Ferrous Scrap Price in Tokyo

Ferrous scrap price keeps weak at 11,900 yen per tonne for steel turning scrap, 14,900 yen for A grade pig iron turning scrap and 13,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is expected to keep weak when local electric furnace steel makers plan output reduction in summer time due to planned maintenance.

Local steel makers are expected to reduce the scrap purchase price under the weak market when some of them already started the output reduction. The lower consumption makes the local supply easy. Local steel makers pay 19,000-19,500 yen per tonne for turning scrap, which is competing with FAS scrap shipping price from Tokyo bay.

Ferrous scrap price is also weak in Osaka at around 17,000 yen per tonne for H2 grade.