TOKYO (Scrap Monster): The country's top producer of H-beams- Tokyo Steel has announced a rise of ¥ 500 in scrap purchasing prices effective April 11th, 2014. This is the third consecutive hike in H2 scrap prices. Earlier, the company had announced a rise of ¥ 1,000/ton in scrap purchasing prices effective April 1st , 2014 at the Utsunomiya works and also a rise of ¥ 500 ~ ¥ 1,000/ton effective April 4th, 2014.
Post cuts, the average scrap purchasing price now remain in the range ¥ 32,000~ ¥ 34,000/ton.
The scrap purchasing prices at Okayama works in Western Japan were at ¥ 33,000/ton and those in Kyushu works increased by ¥ 500/ton to touch ¥ 34,000/ton.
Tokyo Steel's scrap purchasing prices in Tahara works in Central Japan were at ¥ 33,000/ton, while those in Takamatsu steel center on Shikoku Island were at ¥ 32,000/ton.
The scrap purchasing prices at Utsunomiya works in northern Kanto have now increased to ¥ 32,500/ton.
According to trade analysts, mini-mills in the country too have started hiking thier scrap buying prices. The prices may rise further in the coming days, they said.