Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market 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 maintenance outage. The market expects local electric furnace steels will reduce scrap purchase price when they start maintenance outage. They pay 19,000-19,500 yen per tonne for turning scrap in line with FAS export price from Tokyo bay. Ferrous scrap price is flat at around 17,000 yen per tonne for H2 grade around Osaka.