Firm Ferrous Scrap Price in Tokyo

Ferrous scrap market price is increasing at 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 is likely to keep the level. Ferrous scrap export shipment from Tokyo bay apparently decreased slightly to less than 55,000 tonnes last week. However, the active export shipping could result in tight local supply. Local electric furnace steel makers pay 18,000-19,500 yen per tonne for steel turning scrap. However, the shipping price at FAS 19,000-19,500 yen per tonne is still higher than makers’ purchase price.

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