Author: Paul Ploumis
15 Oct 2014 Last updated at 02:43:29 GMT
TOKYO (Scrap Monster): The country's top producer of H-beams- Tokyo Steel has announced further cut of ¥ 1,000/ton in scrap purchasing prices. The new prices will be effective for all deliveries beginning Wednesday, October 15th, 2014 at all its five steel works.
Post cut, the average scrap purchasing price of H2 grade scrap now remain in the range ¥ 30,000~ ¥ 31,500/ton.
The scrap purchasing prices at Okayama works in Western Japan were reduced by ¥ 1,000/ton to ¥ 30,000/ton and those in Kyushu works too dropped by ¥ 1,000/ton to ¥ 31,500/ton.
Tokyo Steel's scrap purchasing prices in Tahara works in Central Japan were at ¥ 31,000/ton, while those in Takamatsu steel center were at ¥ 30,000/ton.
The scrap purchasing prices at Utsunomiya works in northern Kanto have now dropped by ¥ 1,000/ton to ¥ 31,500/ton.
The company had cut the scrap purchasing prices twice prior this, during the month of October itself. Tokyo Steel had reduced the prices by ¥ 500/ton on October 3rd and by another ¥ 500/ton on October 9th.