06 Mar 2014 Last updated at 07:26:01 GMT
TOKYO (Scrap Monster): The country’s top producer of H-beams- Tokyo Steel has again announced cut of by ¥ 1,000/ton in scrap purchasing prices effective March 6th, 2014. The H2 scrap prices have seen continuous decline during January and February this year. This is the second round of price cuts in the past three days. The company had announced cut of ¥500/ton ~ ¥ 1,000/ton in scrap purchasing prices effective March 4th, 2014.
Post cuts, the average scrap purchasing price now remain in the range ¥ 32,000~ ¥ 34,500/ton.
The scrap purchasing prices at Okayama works in Western Japan saw cut of ¥1,000 to ¥ 33,000/ton and those in Kyushu works declined by ¥1,000 to touch ¥ 34,500/ton.
Tokyo Steel’s scrap purchasing prices in Tahara works in Central Japan were at ¥ 33,000/ton, while those in Takamatsu steel center were at ¥ 32,000/ton.
The scrap purchasing prices at Utsunomiya works in northern Kanto too declined by ¥ 1,000/ton to touch ¥ 32,000/ton.
Author: Paul Ploumis