Weak Ferrous Scrap Price in Tokyo

Ferrous scrap market price is weak at around 51,400 yen per tonne for steel turning scrap, at around 54,400 yen for A grade pig iron turning scrap and at around 53,400 yen for B grade pig iron turning scrap at dealers’ purchase price including freight around Tokyo. The price is likely to keep weak due to higher domestic supply under slower export shipping. Local electric furnace steel makers pay 59,000-61,500 yen per tonne for turning scrap. The makers get smooth scrap arrivals enough to the operations during seasonal maintenance outage period. Some makers limit the scrap acceptance temporally. The scrap supply is expected to increase for domestic steel makers due to slower scrap shipping from Tokyo bay. Ferrous scrap market price is decreasing to around 60,000 yen per tonne for H2 grade around Osaka.