04 Mar 2014 Last updated at 00:39:03 GMT
TOKYO (Scrap Monster): The country’s top producer of H-beams- Tokyo Steel has again announced cut of ¥500/ton ~ ¥ 1,000/ton in scrap purchasing prices effective March 4th, 2014. The H2 scrap prices have seen continuous decline during January and February this year.
Tokyo Steel had announced four rounds of price cuts in January alone. The company had announced price cuts to the tune of ¥ 500/ton~ ¥ 1,000/ton on February 22nd and 26th also. Post cuts, the average scrap purchasing price now remain in the range ¥ 33,000~ ¥ 35,000/ton.
The scrap purchasing prices at Okayama works in Western Japan saw cut of ¥500 to ¥ 34,000/ton and those in Kyushu works remained flat at ¥ 35,500/ton.
Tokyo Steel’s scrap purchasing prices in Tahara works in Central Japan were at ¥ 34,000/ton, while those in Takamatsu steel center were at ¥ 33,000/ton.
The scrap purchasing prices at Utsunomiya works in northern Kanto too declined by ¥ 1,000/ton to touch ¥ 33,000/ton.
Author: Paul Ploumis