Turnings Scrap Price to Fall by 500 Yen from the Previous Week in Tokyo

Turnings scrap price declined by around 500 yen per tonne from the previous week in the Tokyo area. The scrap dealers’ purchase price is around 7,900 yen per tonne for iron turnings, around 10,900 yen per tonne for pig iron turnings A and around 9,900 yen per tonne for pig iron turnings B.The purchase price of ferrous scrap by local electric furnaces steel manufactures are declining slightly at 21,500-22,500 yen per tonne for H2. Export price of ferrous scrap in the Tokyo Bay area is still falling, and the scrap supply and demand is easing.On the other hand, the purchase price (H2) by dealers decreased by 2,000 yen per tonne or 13% compared with the beginning of last December. The export price is around 1,000 yen lower than Japanese price. So anticipation of a fall of the ferrous scrap market price spreads out.