Firm Turning Ferrous Scrap in Tokyo

Ferrous scrap market price is firm 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 market price is likely to keep firm. The turning scrap shipping is active from Tokyo bay when electric furnace steel makers in western Japan buy the scrap from Tokyo area. Tokyo’s local supply keeps tight due to the higher shipping. Electric furnace steel makers around Tokyo pay 19,000-19,500 yen per tonne for turning scrap and some pay as high as 20,000 yen. The price keeps firm when the price competes with shipping price from Tokyo bay.