Weak Ferrous Turning Scrap Price in Tokyo

The market price of ferrous turning scrap is flat with potential decrease in Tokyo. The price is around 7,900 yen per tonne for steel turning scrap, around 19,000 yen for A grade pig iron turning scrap and around 9,900 yen for B grade pig iron turning scrap at dealers’ purchase price including freight.Local electric furnace steel makers purchase ferrous scrap at around 21,500-22,500 yen per tonne for H2. The purchase price maintains flat. Ferrous scrap export price is rebounding and makers are cautious for their scrap arrivals and the market condition.Some dealers are raising their purchase prices with the increase of scrap export price. They expect the market price would turn upward, while most dealers still keep the purchase prices when local electric furnaces keep their purchase price level.