Weak Ferrous Scrap Price in Tokyo

Ferrous scrap price is weakening in Tokyo to 10,400 yen per tonne for steel turning scrap, 13,400 yen per tonne for A grade pig iron turning scrap and 12,400 yen per tonne for B grade pig iron turning scrap at dealers’ purchase price including freight. Local electric furnace steel makers purchase ferrous turning scrap at 16,000-17,000 yen per tonne. Ferrous scrap arrival increases in the region and the local electric furnaces hold over stocks. Ferrous scrap supply is being much easier.Ferrous scrap export seems to become low at around 20,000 tonnes in Tokyo Bay area this week. Some sources expect the export would recover to 40,000-50,000 tonnes next week. Ferrous scrap supply might tighten in the region if the export volume increases. In Osaka area, ferrous scrap price keeps flat at around 15,500 yen per tonne for H2 grade.