Weak Ferrous Scrap Price in Tokyo

Ferrous scrap price is 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 decrease when local electric furnace steel makers plan output reduction in the summer time. Local electric furnace steels pay 19,000-19,500 yen per tonne for turning scrap, which competes with shipping FAS price from Tokyo bay. Local scrap dealers expect the scrap market price will keep weak due to lower demand. Ferrous scrap price is flat at 17,000 yen per tonne for H2 around Osaka.