Turning Scrap Price is Weak Tone in Tokyo

Turning scrap price is weak tone in Tokyo. It is around 7,900 yen per tonne for iron turning, around 10,900 yen for pig turning A, and around 9,900 yen for pig turning B, at dealer’s purchasing price including freight.It dropped by 20% or 2,000 yen from December, 2005 reached high price. For the present, dealers wait and see the situation as movement of Asean countries. Asean makers have gotten Europian scrap yet, so Japanese scrap price isn’t likely to react substantially. The purchasing price of ferrous scrap by local electric furnaces steel manufactures is around 21,500-22,500 yen per tonne for H2. Makers are continueing to produce in response to demand, and the supply and demand still keep easy. Local market is expected to keep weak tone at the moment.